When IntercontinentalExchange landed $725 million in new senior unsecured revolving credit facilities from a syndicate of lenders, it tapped Locke Lord Bissell & Liddell partner Philip A. Cooper to lead the deal.
IntercontinentalExchange, known as ICE, operates regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. The company, according to an 8-K filed with the Securities and Exchange Commission, is using the new funds to replace a $100 million facility it terminated and a $300 million senior unsecured revolving credit facility which was set to expire in early April.
Much of the funds are slated to provide liquidity for ICE’s clearing-house subsidiaries in England, Wales, Canada and the United States.
The lenders on the new facilities, which have a three-year term, are Wells Fargo and Bank of America. They were represented by attorneys from the Charlotte office of Robinson, Bradshaw & Hinson. Along with Cooper, Locke Lord associate Enan E. Stillman and ICE’s associate general counsel, Andrew J. Surdykowski and assistant general counsel, David C. Clifton, also worked on the deal.