Deals
Intercontinental Exchange Sells $8 Billion of Bonds to Fund M&A
- Deal will finance cash portion of Black Knight takeover
- A 40-year security will yield 220 basis points over Treasuries
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Intercontinental Exchange Inc. tapped the investment-grade market Thursday with an $8 billion bond sale in six parts to help finance its acquisition of Black Knight Inc.
The longest portion of the offering, a 40-year security, will yield 220 basis points above Treasuries, according to a person familiar with the matter. Initial price talk was in the 240 basis points range.