MARKETAXESS HOLDINGS INC (MKTX): debt financing — MarketAxess enters into new $750M revolving credit facility maturing 2026

MARKETAXESS HOLDINGS INC

New $750M revolver replaces prior $750M facility due Oct 2024; matures Aug 9, 2026.
No funds borrowed initially; proceeds for general corporate purposes.
Interest: Term SOFR + 1.25%-1.75% spread or ABR + 0.25%-0.75%; commitment fees apply.
Covenant: consolidated total leverage ratio not to exceed 2.5 to 1.0, tested quarterly.
Option to increase facility by up to $375M, subject to lender commitments.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MARKETAXESS HOLDINGS INC incurred revolving credit of $750 million with JPMorgan Chase Bank, N.A. at SOFR plus 1.25% to 1.75% depending on Consolidated Total Leverage Ratio maturing August 9, 2026.

Instrument: revolving credit
Principal: $750 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus 1.25% to 1.75% depending on Consolidated Total Leverage Ratio
Maturity: August 9, 2026
Event: incurrence

Exact text from the filing

of lenders and JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent. Pursuant to the Credit Agreement, the lenders have provided aggregate commitments totaling $750 million, consisting of a revolving credit facility (the “Credit Facility”), a $5 million letter of credit sub-limit for standby letters of credit and a $380 million sub-limit for

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MARKETAXESS HOLDINGS INC entered into Credit Agreement with syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent valued at $750 million (effective 2023-08-09).

Action: entry
Agreement: credit facility
Counterparty: syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent
Value: $750 million
Effective: 2023-08-09

Exact text from the filing

On August 9, 2023, MarketAxess Holdings Inc. (the “Company”), as borrower, entered into a credit agreement (the “Credit Agreement”) with a syndicate of lenders and JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

MARKETAXESS HOLDINGS INC terminated existing credit agreement entered into on October 15, 2021, as amended on March 28, 2023 with (not explicitly restated in termination context except syndicate) (effective 2023-08-09).

Action: termination
Agreement: credit facility
Counterparty: (not explicitly restated in termination context except syndicate)
Effective: 2023-08-09

Exact text from the filing

The Credit Agreement replaces the Company’s existing credit agreement entered into on October 15, 2021, as amended on March 28, 2023, which had a maturity date of October 15, 2024.

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101 debt financings filed in the last 30 days. Browse all debt financings →

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Source: SEC EDGAR

accession 0001193125-23-207377

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