Nasdaq Secures $7.025B in Notes for Adenza Acquisition
Ticker: NDAQ · Form: 8-K · Filed: Mar 20, 2024 · CIK: 1120193
| Field | Detail |
|---|---|
| Company | Nasdaq, Inc. (NDAQ) |
| Form Type | 8-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, debt-financing, notes-issuance
Related Tickers: NDAQ
TL;DR
Nasdaq just dropped $7B+ in new debt to fund the Adenza deal. Big moves!
AI Summary
On March 19, 2024, Nasdaq, Inc. entered into a material definitive agreement related to its previously announced acquisition of Adenza. The company also issued senior notes, including $4.500 billion in Senior Notes due 2032, $0.900 billion in Senior Unsecured Notes due 2033, and $0.875 billion in Senior Notes due 2030, and $1.750 billion in Senior Notes due 2029. These actions are part of Nasdaq's ongoing strategic initiatives.
Why It Matters
Nasdaq's issuance of substantial senior notes signals significant financing activity to support its major acquisition, impacting its debt structure and future financial flexibility.
Risk Assessment
Risk Level: medium — The significant debt issuance to fund an acquisition introduces financial risk related to leverage and interest rate sensitivity.
Key Numbers
- $4.500B — Senior Notes Due 2032 (Part of financing for Adenza acquisition)
- $0.900B — Senior Unsecured Notes Due 2033 (Part of financing for Adenza acquisition)
- $0.875B — Senior Notes Due 2030 (Part of financing for Adenza acquisition)
- $1.750B — Senior Notes Due 2029 (Part of financing for Adenza acquisition)
- $7.025B — Total Senior Notes Issued (Aggregate financing for Adenza acquisition)
Key Players & Entities
- Nasdaq, Inc. (company) — Filer and acquirer
- Adenza (company) — Acquisition target
- $4.500 billion (dollar_amount) — Principal amount of Senior Notes due 2032
- $0.900 billion (dollar_amount) — Principal amount of Senior Unsecured Notes due 2033
- $0.875 billion (dollar_amount) — Principal amount of Senior Notes due 2030
- $1.750 billion (dollar_amount) — Principal amount of Senior Notes due 2029
- March 19, 2024 (date) — Date of earliest event reported
FAQ
What is the total principal amount of senior notes issued by Nasdaq?
Nasdaq issued a total of $7.025 billion in senior notes across various maturities (2029, 2030, 2032, and 2033).
What is the purpose of these senior note issuances?
The senior note issuances are related to Nasdaq's previously announced acquisition of Adenza.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on March 19, 2024.
What specific types of senior notes were issued?
Nasdaq issued Senior Notes due 2032 ($4.500B), Senior Unsecured Notes due 2033 ($0.900B), Senior Notes due 2030 ($0.875B), and Senior Notes due 2029 ($1.750B).
Is the acquisition of Adenza complete?
The filing indicates that Nasdaq entered into a material definitive agreement related to the acquisition, suggesting it is a significant step towards completion but not necessarily finalized on this date.
Filing Stats: 1,081 words · 4 min read · ~4 pages · Grade level 9.5 · Accepted 2024-03-20 09:06:07
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share NDAQ The Nasdaq
Filing Documents
- d812900d8k.htm (8-K) — 36KB
- d812900dex11.htm (EX-1.1) — 303KB
- d812900dex41.htm (EX-4.1) — 29KB
- d812900dex991.htm (EX-99.1) — 10KB
- d812900dex992.htm (EX-99.2) — 8KB
- 0001193125-24-072138.txt ( ) — 635KB
- ndaq-20240319.xsd (EX-101.SCH) — 5KB
- ndaq-20240319_def.xml (EX-101.DEF) — 14KB
- ndaq-20240319_lab.xml (EX-101.LAB) — 24KB
- ndaq-20240319_pre.xml (EX-101.PRE) — 15KB
- d812900d8k_htm.xml (XML) — 9KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 20, 2024 NASDAQ, INC. By: /s/ John A. Zecca Name: John A. Zecca Title: Executive Vice President and Chief Legal Officer -4-