NDAQ » Topics » Sale of Building and Related Assets

This excerpt taken from the NDAQ 10-Q filed Aug 8, 2006.

Sale of Building and Related Assets


In April 2006, we classified our building and related assets located in Trumbull, Connecticut as held-for-sale. See Note 5, “2006 and 2005 Cost Reduction Program, INET Integration and Strategic Review,” for further discussion. On July 28, 2006, we completed the sale of this building and related assets for approximately $30.4 million which resulted in an additional $0.4 million loss recorded in the third quarter of 2006. As a result of this sale we were required to prepay a portion of the Credit Facilities as defined in the agreements. Accordingly, we prepaid approximately $9.7 million of the $750 million senior term loan facility and approximately $5.7 million of the $434.8 million term loan credit agreement. We plan to use the remaining proceeds for general corporate purposes.


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