© Reuters. FILE PHOTO: Nasdaq President and CEO Adina Friedman attends the Reuters Next News Maker event in New York City, US, November 30, 2022. REUTERS/Brendan McDiarmid/File Photo
(Reuters) – Nasdaq said on Thursday it aims to sell $5.07 billion in debt to fund its purchase of software company owned by Thoma Bravo Adenza.
The $10.5 billion deal, announced earlier this month to help transform the exchange operator into a fintech company, consists of $5.75 billion in cash and 85.6 million shares of Nasdaq common stock.
Nasdaq is looking to sell large notes worth $4.25 billion and 750 million euros ($821.33 million), according to a statement.
The New York-based company said it has received fully committed bridge financing for the cash portion of the deal, and plans to issue approximately $5.9 billion in debt between the signing and closing of the deal.
Nasdaq and many of its peers have transformed into fintech companies, largely through deals, as regulatory and national backlash wiped out large exchange mergers across borders, and as trading volumes plummeted after the 2008-2009 financial crisis halted existing revenues. on transactions.
Acquisitions made by US stock exchange operator OMX included Scandinavian Markets owner OMX for $3.7 billion in 2007, the international stock exchange for $1.1 billion in 2016, content and analytics provider eVestement for $705 million in 2017, and financial crime-fighting software company Verafin for $2.75 billion in 2020.
($1 = 0.9132 euros)