Intercontinental Exchange prices $8 billion in bonds to finance Black Knight acquisition

intercontinental-exchange-prices-$8-billion-in-bonds-to-finance-black-knight-acquisition

Intercontinental Exchange ICE, +2.90% said late Thursday it priced $8 billion in bonds to finance its $13 billion acquisition of Black Knight Inc. BKI, -0.10%. The deal has 11 joint book-running managers including Bank of America Corp.’s BAC, +0.29% BofA Securities Inc. unit, Goldman Sachs Group Inc. GS, +2.53%, Wells Fargo Securities LLC WFC, +1.99%, Citigroup Global Markets Inc. C, +2.32% and PNC Capital Markets LLC PNC, -1.17%. Intercontinental Exchange announced the acquisition of Black Knight on May 4. Shares of Intercontinental Exchange rose 1% in premarket trades on Friday. The stock is down 30% so far in 2022, compared to a 17.5% drop by the S&P 500 SPX, +2.39%. Jacksonville, Fla.-based Black Knight specializes in software, data and analytics for the housing finance market.

Source: Marketwatch

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