S&P Global Prices $750M Notes Offering

  • Investing.com
S&P Global Prices $750M Notes Offering

S&P Global (SPGI) today announced that it has priced an offering (the "Offering") of $750,000,000 aggregate principal amount of 5.250% senior notes due 2033 (the "Notes") in a private placement transaction pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act").

The Notes will bear interest at a rate of 5.250% per annum and will mature on September 15, 2033.The Notes will pay interest semi-annually in cash in arrears on March 15 and September 15 of each year, beginning on March 15, 2024. The Notes will be unsecured obligations of the Company and will be guaranteed by its subsidiary, Standard & Poor's Financial Services LLC. The closing of the sale of the Notes is expected to occur on or about September 12, 2023, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering to repay its outstanding commercial paper borrowings and for general corporate purposes, including repaying or repurchasing existing indebtedness of the Company or its subsidiaries.

The Notes will be sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and, unless so registered, may not be offered or sold in the United States absent an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of the Notes will be made only by means of an offering memorandum.

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