Shearman & Sterling represented Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., The Huntington Investment Company, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc. and Loop Capital Markets LLC as co-managers in connection with the offering by CBOE Holdings, Inc. (“CBOE Holdings”) of $300 million aggregate principal amount of 1.950% senior notes due 2019 (the “Notes”). CBOE Holdings intends to use the net proceeds from the sale of the Notes to repay amounts outstanding under its term loan facility.
CBOE Holdings is the holding company for Chicago Board Options Exchange, Incorporated, CBOE Futures Exchange, LLC, C2 Options Exchange, Incorporated, Bats Global Markets Holdings, Inc., Bats BZX Exchange, Inc. 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), Erika Khalek (New York-Corporate) and Bradley Simon (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were partners Doreen Lilienfeld (New York-Compensation, Governance & ERISA) and Douglas McFadyen (New York-Tax); counsel Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory); and associates Jake Glazeski (New York-Compensation, Governance & ERISA), Jenny Jordan (New York-Financial Institutions Advisory & Financial Regulatory) and Adam Sternberg (New York-Tax).