ICE Secures $2B Term Loan and Amends Revolving Facility to Fund MarketAxess Acquisition
ICE sits 29% above its 52-week low of $121.79.
Summary
ICE replaced its $6.2B bridge facility with a $2B term loan, a $1.5B MarketAxess revolving tranche, and $3.73B of senior notes to fund the MarketAxess acquisition.
Key Events · Financing and Capital Events · ICE
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New $2B Term Loan Facility
ICE entered into a $2.0 billion delayed draw term loan facility with Bank of America as administrative agent. Proceeds will fund the MarketAxess acquisition, refinance MarketAxess debt, and pay related fees. The facility matures 24 months after funding.
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Revolving Facility Amended
The Fourteenth Amendment extends the maturity of the existing $3.9B revolving credit facility to August 20, 2031 for consenting lenders holding $3.67B of commitments, and creates a new $1.5B MarketAxess Revolving Commitment tranche.
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Bridge Facility Terminated
The $6.2B bridge facility commitments were permanently reduced to zero, replaced by $3.73B of senior notes issued August 20, 2026, the $2.0B term loan, and the $1.5B MarketAxess revolving commitments.
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Acquisition Financing Complete
With the term loan, amended revolving facility, and senior notes in place, ICE has fully replaced its bridge financing for the $5.7B MarketAxess acquisition, removing interim funding risk.
Analysis · ICE · Crypto Assets
ICE finalized the debt stack for its $5.7B MarketAxess acquisition. The new $2B delayed draw term loan and the amended $3.9B revolving facility (with a new $1.5B MarketAxess tranche) replace the $6.2B bridge facility, which is now terminated. This locks in committed financing and removes bridge risk, but adds significant leverage. The revolving facility maturity extends to 2031 for consenting lenders, improving liquidity runway.
How filings like this one have moved
In the 30 days to Aug 23, 2026, 29.5% of the 2875 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ICE was trading at $157.00 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $89B. The 52-week trading range was $121.79 to $181.72. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.