Derivatives exchange operator CME Group Inc. said Thursday it has paid off a $420 million loan to complete the refinancing of a three-year debt agreement.
The original credit and term loan agreement, due to mature in August, was replaced with a $1 billion revolving credit agreement with an expiration of January 2014.
CME said it used a combination of commercial paper and available cash to fund the loan prepayment. It said it expects savings of about $3 million in interest from having paid off the loan early.
Shares in the company fell 58 cents to $312.98 in extended-hours activity after having declined $1.33 to $313.60 in the regular session.
