ICE Secures $2.0 Billion Term Loan to Help Fund MarketAxess Acquisition
Intercontinental Exchange entered new financing tied to its pending acquisition of MarketAxess Holdings, including a $2.0 billion delayed draw term loan and amendments to its $3.9 billion revolving credit facility. The filing also shows the company issued $3.73 billion in senior unsecured notes, which permanently reduced its $6.2 billion bridge facility to zero, so the acquisition is now backed by these new sources rather than the bridge.
Key points
- Term loan facility of $2.0 billion with Bank of America as administrative agent, maturing 24 months after funding
- Revolving credit facility extended to August 20, 2031 for consenting lenders with $3.67 billion in commitments, and a new $1.5 billion MarketAxess revolving commitment class
- Senior unsecured notes issued August 20, 2026 for gross proceeds of $3.73 billion; $6.2 billion bridge facility reduced to $0
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.