NYSE Euronext tenders for 4.8% notes, up to €250 million 5.375% notes

By Susanna Moon

Chicago, Sept. 14 - NYSE Euronext said it began cash tender offers to purchase any and all of its outstanding $750 million 4.8% notes due 2013 and up to €250 million of its outstanding €1 billion 5.375% notes due 2015.

Pricing will be set at 11 a.m. ET on Sept. 27 using the 0.375% U.S. Treasury notes due June 30, 2013 plus a fixed spread of 10 basis points for the 4.8% notes and the Bund OBL 1.75% notes due Oct. 9, 2015 plus 132 bps for the 5.375% notes.

The total price will include a premium of $30 per $1,000 principal amount of 4.8% notes and €30 per €1,000 principal amount of 5.375% notes tendered by 5 p.m. ET on Sept. 27, the early tender date.

Holders also will receive accrued interest to but excluding the payment date, which will be Oct. 3 for early tendered notes and Oct. 15 for the remaining notes.

The offer will end at 11:59 p.m. ET on Oct. 12.

Those who tender their notes after the early deadline will not receive the early premium.

Tendered notes may be withdrawn by the early tender deadline.

If the amount of tendered 5.375% notes exceeds the offer cap, the notes will be purchased on a pro rata basis, according to a company press release.

The offers are conditioned on completion of a new debt offering by the company with proceeds of $750 million. They are not conditioned on the tender of any minimum amount of notes, and neither offer is conditioned on the closing of the other.

Bank of America Merrill Lynch (888 292-0070 or collect 980 683-3215), UBS Investment Bank (888 719-4210 or collect 203 719-4210) and Wells Fargo Securities (866 309-6316 or collect 704 715-8341) are the dealer managers of the U.S. tender offer, and Societe Generale Corporate and Investment Banking (212 278-6964 for U.S. persons, +33 1 58 98 45 81 for non-U.S. persons or email liability.management@sgcib.com), Credit Agricole CIB (+44 20 7214 7408, +44 20 7214 6712 or email steve.sahara@ca-cib.com, jonathan.blondeau@ca-cib.com) and Lloyds Bank (+44 20 7158 3981 or email liability.management@lloydsbanking.com) are dealer managers of the euro tender offer.

D.F. King & Co., Inc. (800 207-3158 or e-mail: nyseeuronext@dfking.com) is the tender agent and information agent for the U.S. offer, and Lucid Issuer Services Ltd. (+44 20 7704 0880 or e-mail nyseeuronext@lucid-is.com) is the tender agent for the euro offer.

NYSE Euronext is a New York-based operator of financial markets and provider of innovative trading technologies.

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