News Release

CME Group Inc. Completes Refinancing of Three-Year Revolving Credit Agreement, Prepayment of Three-Year Term Loan and Termination of Interest Rate Swap

Thu Jan 13 2011

CHICAGO, Jan. 13, 2011 /PRNewswire/ -- CME Group Inc., the world's leading and most diverse derivatives marketplace, today announced that it has completed the refinancing of its three-year revolving credit and term loan agreement with an original maturity date of August 2011. The facility has been replaced with a $1 billion multi-currency revolving credit agreement with an expiration of January 2014.

Noteworthy elements of the transaction include the following:

  • The $420.5 million term loan due to mature in August 2011 was prepaid.
  • A combination of commercial paper and available cash was used to fund the prepayment of the term loan.
  • An interest rate swap associated with the term loan was terminated, resulting in the acceleration into fourth-quarter of 2010 of approximately $9 million of non-operating expense that otherwise would have been expensed over the remaining life of the loan.
  • Including interest saved from early termination of the term loan and net of additional interest expense related to the commercial paper, total savings of approximately $3 million are expected.

Bank of America, N.A. served as administrative agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital, UBS Securities LLC, and Wells Fargo Securities, LLC served as joint lead arrangers.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets. The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (Nasdaq: CME) and its products can be found at www.cmegroup.com.

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SOURCE CME Group

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