Intercontinental Exchange launches bond issuance to raise funds for $6 billion acquisition of MarketAxess

According to Bloomberg, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has launched a US dollar investment grade bond issuance to raise funds for its $6 billion acquisition of MarketAxess. The issue is divided into five periods, with a term of 3 to 10 years. The initial pricing guidelines for the longest dated bonds are 115 basis points higher than the yield of US treasury bond bonds in the same period. The Intercontinental Exchange (ICE) has signed a bridge financing commitment letter with Bank of America for up to $6.25 billion, with Bank of America, Citigroup, Mitsubishi UFJ, and Wells Fargo responsible for underwriting.