AI English summary of an SEC filing — figures as filed
Intercontinental Exchange ICEThe company said the consent solicitation for the 3.625% Senior Notes due 2028 issued by Black Knight InfoServ, LLC expired at 5 p.m. New York City time on February 28, 2024. The company said it had received valid consents from holders of approximately 95% of the BK Notes' principal amount, which was sufficient to approve the amendments.
Key points
AI summaryThe company said the consent solicitation for the 3.625% Senior Notes due 2028 issued by Black Knight InfoServ, LLC expired at 5 p.m. New York City time on February 28, 2024. The company said it had received valid consents from holders of approximately 95% of the BK Notes' principal amount, which was sufficient to approve the amendments.
ICE said it will pay holders of BK Notes whose consents were validly delivered and not validly revoked before the expiration date aggregate cash consideration of $2,500,000, or about $2.64 per $1,000 of principal amount of BK Notes. The total outstanding principal amount of the BK Notes is $1 billion.
The company said the amendments would eliminate the reporting covenant, most other restrictive covenants and all events of default other than payment-related and guarantee-related ones. It said Black Knight InfoServ, LLC entered into a First Supplemental Indenture on February 28, 2024, which took effect upon execution.
The company said the reporting covenant amendment took effect on February 29, 2024, when ICE deposited with the Depository Trust Company the cash needed to pay the consent consideration. It said the other amendments will take effect on the date ICE completes a private exchange offer to exchange BK Notes for new senior notes issued by ICE.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Consent Solicitation Expires and Requisite Consents Obtained
The company said the consent solicitation for the 3.625% Senior Notes due 2028 issued by Black Knight InfoServ, LLC expired at 5 p.m. New York City time on February 28, 2024. The company said it had received valid consents from holders of approximately 95% of the BK Notes' principal amount, which was sufficient to approve the amendments.
Source · Based on the filing body and exhibits
Aggregate Cash Consent Payment Amount
ICE said it will pay holders of BK Notes whose consents were validly delivered and not validly revoked before the expiration date aggregate cash consideration of $2,500,000, or about $2.64 per $1,000 of principal amount of BK Notes. The total outstanding principal amount of the BK Notes is $1 billion.
Source · Based on the filing body and exhibits
Amendment Terms and Supplemental Indenture
The company said the amendments would eliminate the reporting covenant, most other restrictive covenants and all events of default other than payment-related and guarantee-related ones. It said Black Knight InfoServ, LLC entered into a First Supplemental Indenture on February 28, 2024, which took effect upon execution.
Source · Based on the filing body and exhibits
Effective Timing of Each Amendment
The company said the reporting covenant amendment took effect on February 29, 2024, when ICE deposited with the Depository Trust Company the cash needed to pay the consent consideration. It said the other amendments will take effect on the date ICE completes a private exchange offer to exchange BK Notes for new senior notes issued by ICE.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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