Intercontinental Exchange (NYSE: ICE) taps bonds to finance planned MarketAxess acquisition
Rhea-AI Filing Summary
Intercontinental Exchange, Inc. (ICE) completed a multi-tranche public debt offering consisting of $1.25 billion of 4.700% Senior Notes due 2029, $1.10 billion of 4.900% Senior Notes due 2031, $650 million of 5.150% Senior Notes due 2033 and $750 million of 5.400% Senior Notes due 2036. The Notes were issued under ICE’s existing base Indenture dated August 13, 2018, as supplemented by an Eighth Supplemental Indenture, with Computershare Trust Company, National Association serving as trustee.
ICE received approximately $3.71 billion in net proceeds from the offering, after underwriting discounts and commissions and before offering expenses. ICE states that it intends to use the net proceeds, together with additional financing sources such as a new senior unsecured term loan facility, commercial paper, borrowings under its revolving credit agreement and cash on hand, to fund the purchase price for MarketAxess Holdings Inc. under a previously announced merger agreement and to pay related fees, commissions and expenses.
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8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
4.700% Senior Notes due 2029: $1,250,000,000 aggregate principal amount
4.900% Senior Notes due 2031: $1,100,000,000 aggregate principal amount
5.150% Senior Notes due 2033: $650,000,000 aggregate principal amount
+2 more
5 metrics
4.700% Senior Notes due 2029
$1,250,000,000 aggregate principal amount
Principal amount of 4.700% Senior Notes due 2029 issued August 20, 2026
4.900% Senior Notes due 2031
$1,100,000,000 aggregate principal amount
Principal amount of 4.900% Senior Notes due 2031 issued August 20, 2026
5.150% Senior Notes due 2033
$650,000,000 aggregate principal amount
Principal amount of 5.150% Senior Notes due 2033 issued August 20, 2026
5.400% Senior Notes due 2036
$750,000,000 aggregate principal amount
Principal amount of 5.400% Senior Notes due 2036 issued August 20, 2026
Net proceeds from Notes
$3.71 billion
Net proceeds after underwriting discounts and commissions and before offering expenses
Key Terms
Senior Notes, automatic shelf registration statement, Indenture, prospectus supplement, +1 more
5 terms
Senior Notes financial
"aggregate principal amount of its 4.700% Senior Notes due 2029"
Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.
automatic shelf registration statement regulatory
"offered and sold pursuant to ICE’s automatic shelf registration statement on Form S-3"
An automatic shelf registration statement is a pre-approved filing that companies submit to securities regulators, allowing them to sell new shares or bonds quickly and efficiently when needed. It acts like a standing permit, enabling the company to raise money without going through a lengthy approval process each time, which can be helpful for responding promptly to market opportunities or needs. For investors, it provides transparency about the company's ability to raise funds and signals planning flexibility.
Indenture financial
"The Notes were issued under the Indenture, dated as of August 13, 2018"
An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.
prospectus supplement regulatory
"supplemented by the prospectus supplement dated August 11, 2026"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
commercial paper program financial
"the issuance of commercial paper under its commercial paper program"
A commercial paper program is a formal way a company issues very short-term IOUs to raise quick cash, typically for days to months, without using a bank loan. Investors care because it shows how the company manages short-term funding and how trustworthy it appears—like watching whether someone keeps using and repaying a credit card; frequent use or higher costs can signal cash strain, while smooth issuance suggests healthy liquidity.
FAQ
What debt securities did ICE (symbol ICE) issue on August 20, 2026?
ICE issued $1.25 billion of 4.700% Senior Notes due 2029, $1.10 billion of 4.900% Senior Notes due 2031, $650 million of 5.150% Senior Notes due 2033 and $750 million of 5.400% Senior Notes due 2036 in a public offering.
How much net proceeds did ICE (ICE) receive from its August 2026 notes offering?
ICE received approximately $3.71 billion in net proceeds from the sale of the Notes, after underwriting discounts and commissions and before offering expenses.
What will ICE (ICE) use the net proceeds of the notes offering for?
ICE intends to use the $3.71 billion in net proceeds, together with additional financing sources, to finance the purchase price for MarketAxess Holdings Inc. under a merger agreement and to pay related fees, commissions and expenses.
Which banks underwrote ICE’s (ICE) August 2026 senior notes offering?
The Notes were sold under an Underwriting Agreement between ICE and BofA Securities, Wells Fargo Securities, MUFG Securities Americas, Citigroup Global Markets, Fifth Third Securities and PNC Capital Markets, acting as representatives of the underwriters named in the agreement.
Under what legal framework were ICE’s (ICE) new notes issued?
The Notes were issued under an Indenture dated August 13, 2018, as supplemented by an Eighth Supplemental Indenture dated August 20, 2026, with Computershare Trust Company, National Association acting as trustee.
What registration statement did ICE (ICE) use for the August 2026 notes offering?
The Notes were offered and sold pursuant to ICE’s automatic shelf registration statement on Form S-3 (File No. 333-277603), including the related prospectus and a prospectus supplement dated August 11, 2026.
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