Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers and PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., The Huntington Investment Company and Loop Capital Markets LLC as co-managers in connection with the offering by CBOE Holdings, Inc. (“CBOE Holdings”) of $650 million aggregate principal amount of 3.650% senior notes due 2027 (the “Notes”). CBOE Holdings intends to use the net proceeds from the sale of the Notes to fund, in part, the acquisition by CBOE Holdings of Bats Global Markets, Inc.
CBOE Holdings is the holding company for Chicago Board Options Exchange, Incorporated, CBOE Futures Exchange, LLC, C2 Options Exchange, Incorporated and other subsidiaries. CBOE Holdings’s principal business is operating markets that offer for trading options on various market indexes, mostly on an exclusive basis, and futures contracts, as well as trading options on non-exclusive ‘‘multiply-listed’’ options, such as options on the stocks of individual corporations and options on other exchange-traded products, such as exchange-traded funds and exchange-traded notes.
The Shearman & Sterling team included partner JD DeSantis
(New York-Capital Markets); and associates Sean Dougherty (New York-Capital Markets), Sean Cornely (New York-Finance), Erika Khalek (New York-Corporate), Bradley Simon (New York-Corporate) and Stephen Sainato (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were partners Lisa Jacobs
(New York-Capital Markets), Doreen Lilienfeld
(Compensation, Governance & ERISA-New York) and Douglas McFadyen (New York-Tax); counsel Jennifer Morton
(Financial Institutions Advisory & Financial Regulatory-New York); and associates Oliver Linch (Financial Institutions Advisory & Financial Regulatory-London), David Ling (Compensation, Governance & ERISA-New York), Jenny Ding (Financial Institutions Advisory & Financial Regulatory-New York) and Adam Sternberg (New York-Tax).