Nasdaq OMX Group has got a $1.2 billion line of credit that will be due in 2016. The new loan is part of a refinancing of Nasdaq OMX’s existing credit facility, which has been terminated. The new loan comprises a $750 million revolving credit commitment, which is expected to remain unfunded until the closing of the offer for the convertible notes, and a funded $450 million senior unsecured term loan. The exchange operator also launched a tender offer for $428 million of its 2.5 percent convertible senior notes due to mature in 2013, which it is offering to repurchase for $1,025 per each 1,000 of principal amount of the bonds, plus unpaid interest. Nasdaq, which intends to finance the notes buyback with cash from operations and funds available under its new credit line, will not incur extra debt as a result of the transaction.

Click here for the release from Globe Newswire.