State Street partners with Latinx Firms to underwrite $750M in senior notes

Aug. 05, 2022 5:12 AM ETState Street Corporation (STT)By: Khyathi Dalal, SA News Editor3 Comments
  • State Street (NYSE:STT) issued $750M principal amount of fixed-to-floating rate senior notes due 2033.
  • The offering was structured with Cabrera Capital Markets acting as bookrunner, and Great Pacific Securities, Penserra Securities, and Samuel A. Ramirez & Company, acting as co-managers; four broker-dealers are Latinx-owned.
  • Broker dealers have underwritten 33% final of the debt securities in the offering.
  • This marks the third such offering this year where the underwriting syndicate has been structured in a manner consistent with State Street’s inclusion, diversity and equity strategy, reflecting the firm’s continuing efforts to amplify the impact of its ESG initiatives.
  • The offering of $750M of senior notes priced at the tight end of initial price talk areas and had a final orderbook that was 4.3 times oversubscribed.

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