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These excerpts taken from the NDAQ 10-Q filed May 8, 2009. Debt Issuance Costs In 2008, in conjunction with the issuance of the 2.50% convertible senior notes, we incurred debt issuance costs of $10 million. These costs, which are capitalized and included in other assets in the Condensed Consolidated Balance Sheets, are being amortized over the life of the debt obligation. In connection with the early extinguishment of a portion of these notes, we recorded a pre-tax charge of $0.4 million for debt issuance costs. See “Early Extinguishment of Debt” above for further discussion. Amortization expense, which was recorded as additional interest expense for these costs, was immaterial for both the three months ended March 31, 2009 and 2008. Debt Issuance Costs In 2008, in conjunction with our Credit Facilities, we incurred debt issuance costs of $44 million. These costs, which are capitalized and included in other assets in the Condensed Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense which was recorded as additional interest expense for these costs was $2 million for the three months ended March 31, 2009 and was immaterial for the three months ended March 31, 2008.
17
Table of ContentsThese excerpts taken from the NDAQ 10-K filed Feb 27, 2009. Debt Issuance Costs
In conjunction with the issuance of the 2.50% convertible senior notes, we incurred debt issuance costs of $9.6 million. These costs, which are capitalized and included in other assets in the Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense, which was recorded as additional interest expense, was $1.5 million for the year ended December 31, 2008.
Debt Issuance Costs
In conjunction with our Credit Facilities, we incurred debt issuance costs of $43.7 million. These costs, which are capitalized and included in other assets in the Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense which was recorded as additional interest expense was $6.7 million for the year ended December 31, 2008.
At December 31, 2008, we were in compliance with the covenants of all of our debt obligations.
In addition to the $75.0 million Revolving Credit Facility discussed above, we have credit facilities related to our clearinghouses in order to meet regulatory liquidity requirements. These credit facilities, which are
F-59
Table of ContentsThe NASDAQ OMX Group, Inc.
Notes to Consolidated Financial Statements—(Continued)
available in multiple currencies, primarily Swedish Krona, totaled $245.8 million at December 31, 2008, of which $4.4 million was drawn and was included in other accrued liabilities in the Consolidated Balance Sheets.
Debt Issuance Costs In conjunction with the issuance of the 2.50% convertible senior notes, we incurred debt issuance costs of $9.6 million.
This excerpt taken from the NDAQ 10-Q filed Nov 7, 2008. Debt Issuance Costs In conjunction with our Credit Facilities, we incurred debt issuance costs of $39.7 million. These costs, which are capitalized and included in other assets in the Condensed Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense which was recorded as additional interest expense was $2.0 million for the three months ended September 30, 2008 and $4.6 million for the nine months ended September 30, 2008. At September 30, 2008, we were in compliance with the covenants of all of our debt obligations. In addition to the $75.0 million Revolving Credit Facility discussed above, we have credit facilities related to our clearinghouses in order to meet liquidity requirements. These credit facilities, which are available in multiple currencies, primarily Swedish Krona, totaled $224.1 million. Through SCCP we also have $40.0 million in lines of credit to provide margin financing to participants. The credit facilities and lines of credit were undrawn at September 30, 2008. This excerpt taken from the NDAQ 10-Q filed Aug 8, 2008. Debt Issuance Costs In conjunction with our Credit Facilities, we incurred debt issuance costs of $38.5 million. These costs, which are capitalized and included in other assets in the Condensed Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense which was recorded as additional interest expense was $1.9 million for the three months ended June 30, 2008 and $2.6 million for the six months ended June 30, 2008. At June 30, 2008, we were in compliance with the covenants of all of our debt obligations. In addition to the $75.0 million Revolving Credit Facility discussed above, we also have credit facilities related to our clearinghouses in order to meet liquidity requirements. These credit facilities which are available in multiple currencies, primarily Swedish Krona, totaled $257.4 million at June 30, 2008, of which $6.8 million was drawn. This excerpt taken from the NDAQ 10-Q filed May 9, 2008. Debt Issuance Costs In conjunction with our Credit Facilities, we incurred debt issuance costs of $37.7 million. These costs, which are capitalized and included in other assets in the Condensed Consolidated Balance Sheets, are being amortized over the life of the debt obligation. Amortization expense which was recorded as additional interest expense was immaterial for the three months ended March 31, 2008.
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Table of ContentsAt March 31, 2008, we were in compliance with the covenants of all of our debt obligations. In addition to the $75.0 million Revolving Credit Facility discussed above, we also have credit facilities related to our clearinghouses in order to meet liquidity requirements. These credit facilities which are available in multiple currencies, primarily Swedish Krona, totaled $260.4 million at March 31, 2008, of which $6.3 million was drawn. These excerpts taken from the NDAQ 10-K filed Feb 25, 2008. Debt Issuance Costs
In connection with the early extinguishment of the Credit Facilities on September 28, 2007, we recorded a pre-tax charge of $5.8 million for the loss on early extinguishment of debt, which is included in general, administrative and other expense in the Consolidated Statements of Income in 2007. As discussed above, we incurred debt issuance costs of $17.5 million in connection with the April 2006 Credit Facility. After the repayments in May and November 2006, which resulted in an acceleration of debt issuance costs of $9.7 million and amortization expense of $1.1 million in 2006, the unamortized balance of debt issuance costs was $6.7 million at December 31, 2006. These costs were included in other assets in the Consolidated Balance Sheets as of December 31, 2006.
Debt Issuance Costs
on early extinguishment of debt, which is included in general, administrative and other expense in the Consolidated Statements of Income in 2007. As discussed above, we incurred debt issuance costs of $17.5 million in connection with the April 2006 Credit Facility. After the repayments in May and November 2006, which resulted in an acceleration of debt issuance costs of $9.7 million and amortization expense of $1.1 million in 2006, the unamortized balance of debt issuance costs was $6.7 million at December 31, 2006. These costs were included in other assets in the Consolidated Balance Sheets as of December 31, 2006.
“Commitment Letter”), from Bank of America, N.A. and JPMorgan Chase Bank, N.A. (collectively the “Banks”) for the commitment of debt financing consisting of term loan facilities and a revolving credit facility (collectively the “ New Credit Facilities”). We expect the New Credit Facilities to provide for up to $2,075.0 million of senior secured loans, which will include (i) a five-year, $2,000.0 million senior secured term loan facility (the “Term Loan Facility”), which consists of (a) an up to $1,050.0 million term loan facility allocated to the OMX combination (to the extent that less than 100% of the OMX shares are purchased on the OMX closing date, the remaining portion of this part of the Term Loan Facility would be allocated to a delayed draw term loan facility that will be available for six months following the closing date to purchase the remaining OMX shares, if any, as well as to refinance certain existing debt of OMX and its subsidiaries that is not refinanced on the closing date), (b) a $650.0 million delayed draw term loan facility allocated to the PHLX acquisition that will be available until July 31, 2008, and (c) a $300.0 million delayed draw term loan facility that will be available for six months following the closing of the OMX combination to fund the proposed Nord Pool acquisition and (ii) a five-year, $75.0 million senior secured revolving credit facility, with a letter of credit subfacility and swingline loan subfacility (the “Revolving Credit Facility”), which we expect to be undrawn at the closing of the OMX combination. In addition to providing financing for the combination with OMX and the acquisitions of PHLX and certain assets of Nord
F-31 Table of ContentsThe Nasdaq Stock Market, Inc. Notes to Consolidated Financial Statements—(Continued) Borrowings under the New Credit Facilities (other than swingline loans) will bear interest, at our We expect our obligations under the New Credit Facilities (i) to be guaranteed by each of the existing and future We expect the New Credit Facilities to contain customary negative covenants
In addition, we expect the New Credit Facilities to contain financial We expect the New Credit Facilities also to contain customary affirmative covenants, including access to financial We expect to be permitted to repay borrowings under the New Credit Facilities at any time in whole or in part, without The Commitment Letter provides that if definitive, signed bank finance documentation is not negotiated and signed by the
F-32 Table of ContentsThe Nasdaq Stock Market, Inc. Notes to Consolidated Financial Statements—(Continued)
This excerpt taken from the NDAQ 10-K filed Feb 28, 2007. Debt Issuance Costs
As discussed above, we incurred debt issuance costs of $17.5 million in connection with the April 2006 Credit Facility. After the repayments in May and November 2006, which resulted in an acceleration of debt
F-30
Table of ContentsThe Nasdaq Stock Market, Inc.
Notes to Consolidated Financial Statements—(Continued)
issuance costs of $9.7 million and amortization expense of $1.1 million in 2006, the unamortized balance of debt issuance costs was $6.7 million at December 31, 2006. These costs are included in other assets in the Consolidated Balance Sheets as of December 31, 2006.
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