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Nasdaq has said it aims to sell debt worth $5.07 billion to fund its purchase of Thoma Bravo-owned software company Adenza.
The $10.5bn deal, announced earlier this month to help transform the exchange operator into a financial technology company, comprises $5.75bn in cash and 85.6 million shares of Nasdaq common stock.
Nasdaq is looking to sell senior notes worth $4.25bn and 750m euros ($821.33m), according to a statement.
The New York-based company said it has received fully committed bridge financing for the cash part of the transaction, and plans to issue about $5.9bn of debt between the signing and the closing of the deal.
Nasdaq and many of its peers have been morphing into financial technology firms, largely through deals.
The US exchange operator’s acquisitions have included Nordic markets owner OMX for $3.7bn in 2007, International Securities Exchange for $1.1bn in 2016, content and analytics provider eVestement for $705m in 2017 and anti-financial crime software firm Verafin for $2.75bn in 2020.
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