debt
confidence high
sentiment neutral
materiality 0.50
ICE launches exchange offer for $1B Black Knight 3.625% notes due 2028
Intercontinental Exchange, Inc.
- Offers to exchange up to $1B aggregate principal of BK Notes for new ICE Notes with same rate/maturity.
- Early tenders by Nov 22 receive $1,000 ICE Notes per $1,000 BK plus $1 cash; late tenders get $970 ICE Notes.
- Consents sought to eliminate substantially all restrictive covenants and events of default from BK indenture.
- Exchange and consent solicitation expire Dec 8, 2023; settlement expected Dec 12, 2023.