CHICAGO, Jan. 13, 2011 /PRNewswire/ -- CME Group Inc., the
world's leading and most diverse derivatives marketplace, today
announced that it has completed the refinancing of its three-year
revolving credit and term loan agreement with an original maturity
date of August 2011. The facility has
been replaced with a $1 billion
multi-currency revolving credit agreement with an expiration of
January 2014.
Noteworthy elements of the transaction include the
following:
- The $420.5 million term loan due
to mature in August 2011 was
prepaid.
- A combination of commercial paper and available cash was used
to fund the prepayment of the term loan.
- An interest rate swap associated with the term loan was
terminated, resulting in the acceleration into fourth-quarter of
2010 of approximately $9 million of
non-operating expense that otherwise would have been expensed over
the remaining life of the loan.
- Including interest saved from early termination of the term
loan and net of additional interest expense related to the
commercial paper, total savings of approximately $3 million are expected.
Bank of America, N.A. served as administrative agent and Merrill
Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital,
UBS Securities LLC, and Wells Fargo Securities, LLC served as joint
lead arrangers.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and its trading
facilities in New York and
Chicago. CME Group also operates
CME Clearing, one of the largest central counterparty clearing
services in the world, which provides clearing and settlement
services for exchange-traded contracts, as well as for
over-the-counter derivatives transactions through CME ClearPort®.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk in both listed and
over-the-counter derivatives markets. The Globe logo, CME, Chicago
Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort
are trademarks of Chicago Mercantile Exchange Inc. CBOT and
Chicago Board of Trade are
trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile
Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX
is a trademark of Commodity Exchange, Inc. All other trademarks are
the property of their respective owners. Further information about
CME Group (Nasdaq: CME) and its products can be found at
www.cmegroup.com.
CME-G
SOURCE CME Group