Cboe Global Markets, Inc. 8-K

Summary

Cboe amended and restated its revolving credit agreement on 7/24/2026, establishing a five-year senior unsecured facility that supports its borrowing capacity and adds covenant permissions for clearing activities.

Key Figures

• Facility: $400M revolving commitment, including a $25M swing line; the company may seek up to $200M in additional commitments, subject to lender agreement, for a total of $600M.
• Interest: At the company’s option, loans can bear interest at Term SOFR, SONIA or EURIBOR, as applicable, plus a ratings-based margin of 0.75%-1.25% (each rate subject to a 0% floor); or at a daily fluctuating rate based on the administrative agent’s prime rate, subject to a 1% floor, plus a ratings-based margin of 0%-0.25%.
• Maturity: 7/24/2031, when outstanding amounts are due unless the facility terminates earlier.
• Financial covenants: Minimum consolidated interest coverage ratio of 4.00:1.00 and maximum consolidated leverage ratio of 3.50:1.00. Subject to specified triggers, the leverage limit can step up to 4.25:1.00 once and 4.00:1.00 once, each for four consecutive fiscal quarters; before the second step-up, the ratio must have returned to 3.50:1.00 for at least two consecutive quarters.