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Borse Dubai announces that it has today entered into a series of Transactions with Nasdaq OMX Group, Inc. (“NASDAQ OMX”), Nomura International Plc (“Nomura”) and Emirates NBD Bank PJSC (“Emirates NBD”) to secure a partial repayment and partial refinancing resulting, in aggregate, a ca. US$ 1.1 billion early repayment of its existing ca.US$ 2.45 billion Term Loan Facility. Emirates NBD and Nomura acted as Financial Advisers to Borse Dubai.
The refinancing comprises three separate transactions which have been entered into simultaneously:
Borse Dubai has sold in a private transaction ca. 22.78 million shares of common stock of NASDAQ OMX to NASDAQ OMX for proceeds of ca. US$ 497 million, such proceeds to be applied in the pre-payment of the Term Loan Facility.
Borse Dubai has sold in a private placement 8.0 million shares of common stock of NASDAQ OMX to Nomura for proceeds of ca. US$175 million, such proceeds also to be applied in the pre-payment of the Term Loan Facility. Nomura has in turn agreed to sell such shares to Investor AB pending regulatory clearance.
Borse Dubai has completed a 3-year Loan facility of ca. US$ 428 million arranged by Nomura and Emirates NBD.
Borse Dubai has, with support from its controlling shareholder the Investment Corporation, reached an understanding with its existing banking group to complete the refinancing of the remaining portion of its existing ca. US$ 2.45 billion Term Loan Facility in advance of the maturity date at the end of February 2011.
H.E. Mohammed Ibrahim Al Shaibani, speaking on behalf of ICD, the controlling shareholder of Borse Dubai, said: "We are very pleased to have completed this refinancing and to have partially de-leveraged and partially extended the term of Borse Dubai’s facility for a further 3 years. Borse Dubai remains a committed, long-term shareholder of NASDAQ OMX and by entering into these Transactions it has been able to achieve its financing objectives while retaining substantial economic interest in NASDAQ OMX. Borse Dubai remains the single largest shareholder of Nasdaq OMX."
Borse Dubai is a holding company established in August 2007 to expand Dubai's position as a global capital markets hub.
