CME obtains $2.25 billion multi-currency revolving line of credit

By Rebecca Melvin

Concord, N.H., Nov. 16 – CME Group Inc.’s wholly owned subsidiary Chicago Mercantile Exchange Inc. entered into a new multi-currency revolving credit facility on Nov. 12 including a $2.25 billion line of credit with the option to increase the facility from time to time to $3.25 billion, according to an 8-K filed with the Securities and Exchange Commission.

The proceeds of the senior credit facility can be used for ongoing working capital and other general corporate purposes. It is prepayable from time to time without premium or penalty. The facility matures on Nov. 12, 2026.

The lenders include Bank of America, NA, as administrative agent; Barclays Bank plc, BMO Harris Bank NA, Citibank, NA, Wells Fargo Bank, NA, Bank of China, New York Branch, Lloyds Bank Corporate Markets plc, MUFG Bank. Ltd., JPMorgan Chase Bank, NA, and the Toronto-Dominion Bank, New York Branch, as co-syndication agents; and U.S. Bank NA, as documentation agent; and BofA Securities, Inc., Barclays, BMO Capital Markets Corp., Citibank, Wells Fargo Securities, LLC, Bank of China, Lloyds, MUFG Bank, Ltd., JPMorgan, and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners.

The facility requires that the company maintain a minimum consolidated net worth, as well as customary limitations on liens, subsidiary debt and fundamental changes. It replaces the company’s Nov. 21, 2017 credit agreement, among CME Group Inc., certain financial institutions and other persons party thereto as lenders, and Bank of America, NA.

Borrowings bear interest at SOFR plus a margin ranging from 62.5 basis points to 112.5 bps, and the commitment fee ranges from 8 bps to 20 bps, both depending on ratings.

The holding company of four futures exchanges is based in Chicago.

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