Intercontinental Exchange $6.5 billion notes offering
Davis Polk advised the joint book-running managers in connection with an SEC-registered debt offering by Intercontinental Exchange, Inc. of $1.25 billion in aggregate principal amount of floating-rate senior notes due 2023, $1 billion in aggregate principal amount of 0.700% senior notes due 2023, $1.5 billion in aggregate principal amount of 1.850% senior notes due 2032, $1.25 billion in aggregate principal amount of 2.650% senior notes due 2040 and $1.5 billion in aggregate principal amount of 3.000% senior notes due 2060.
Intercontinental Exchange intends to use the net proceeds from the offering, together with the issuance of commercial paper and/or borrowings under its revolving credit facility and borrowings under a new senior unsecured term loan facility, to finance the cash portion of the purchase price for Ellie Mae Intermediate Holdings I, Inc. and its indirect wholly owned subsidiary, Ellie Mae, Inc.
Intercontinental Exchange is a global operator of regulated exchanges, clearing houses and listing venues and a provider of data services for commodity, fixed income and equity markets.
The Davis Polk corporate team included partner Joseph A. Hall and associates Jacqueline Marino and Joanna Sedlak. The tax team included partner Michael Farber and associate Tomislava Dragicevic. All members of the Davis Polk team are based in the New York office.