Shearman & Sterling advised Intercontinental Exchange, (“ICE”), as Borrower, in connection with an amendment to its existing senior unsecured revolving credit facility to make certain changes, including extending the maturity date and increasing the available commitments from $3.775 billion to $3.9 billion and a $2.4 billion senior unsecured term loan facility, in each case, agented by Wells Fargo Bank, National Association. The amounts available under the revolving credit facility are available to ICE to use for working capital and general corporate purposes including, but not limited to, acting as a backstop to the amounts issued under ICE’s commercial paper program. The proceeds of the loans to be extended under the term loan facility are expected to be used (i) to (A) finance a portion of the cash purchase price for the acquisition of Black Knight, (“Black Knight”), (B) refinance all or a portion of the existing indebtedness of Black Knight and its subsidiaries and/or (C) pay fees, costs, commissions and expenses in connection with the acquisition of Black Knight and related transactions and (ii) to provide for working capital and other general corporate purposes.
Intercontinental Exchange, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
The Shearman & Sterling team below included associate Camille Masse-Pfister (NY-Finance).