Nasdaq, Inc. said it has priced notes to be used in paying off the acquisition of eVestment.
The Nasdaq is looking at raising through a public offering of $500,000,000 aggregate principal amount of U.S. dollar-denominated senior floating rate notes due 201.
The offering will have an interest rate equal to the three-month U.S. dollar LIBOR plus 0.39% per annum. The Offering is expected to close on September 22, 2017, subject to the satisfaction of customary closing conditions.
The Company expects to use the net proceeds from the Offering, together with cash on hand, borrowings under the Company’s senior credit facility and/or issuances of commercial paper, to fund the cash consideration payable by the Company for its acquisition of eVestment, Inc. and related expenses. If the eVestment Transaction does not close, Nasdaq said it will use the net proceeds from the Offering for general corporate purposes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC will are advising the Nasdaq on the deal.