Loan & DebtJul 1, 2026, 04:53 PM
Nasdaq Secures $1.5B Revolving Credit Facility
AI Summary
Nasdaq, Inc. has entered into an Amended and Restated Credit Agreement, establishing a new $1.5 billion senior unsecured five-year revolving credit facility. This new facility, maturing on June 30, 2031, replaces the company's existing credit agreement. The proceeds are intended for general corporate purposes, including financing acquisitions, repaying indebtedness, and funding share repurchases. The agreement includes an option to increase commitments by up to $1.0 billion and features interest rates and commitment fees tied to the company's debt ratings.
Key Highlights
- Nasdaq entered into a new $1.5 billion senior unsecured five-year revolving credit facility.
- The facility matures on June 30, 2031.
- Interest rates range from 87.5 to 150.0 basis points over reference rates for Benchmark Loans.
- A commitment fee of 8.0 to 15.0 basis points applies to the unused portion.
- The company has an option to increase commitments by up to $1.0 billion.
- Proceeds can be used for general corporate purposes, including acquisitions and share repurchases.
- The facility includes a leverage ratio covenant not exceeding 3.75 to 1.00, with temporary increases for acquisitions.
- As of July 1, 2026, there were no loans outstanding under the new facility.
Price Impact
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