Summary
Moody's Corporation (MCO) announced on November 12, 2015, that it entered into an underwriting agreement to issue and sell $300 million in aggregate principal amount of 5.250% Senior Notes due 2044. This offering represents a further issuance of existing notes, meaning these new notes will be fungible with and consolidate into the outstanding $300 million of 5.250% Senior Notes due 2044 previously issued in July 2014. Following this offering, the total aggregate principal amount of these senior notes outstanding will increase to $600 million. The offering was registered under the company's existing Form S-3 registration statement. Moody's also issued a press release on November 13, 2015, to announce the pricing of this debt offering. This strategic move aims to bolster the company's capital structure and potentially fund ongoing operations or strategic initiatives.
Key Highlights
- 1Moody's Corporation priced a $300 million offering of 5.250% Senior Notes due 2044.
- 2The new notes are fungible with and will consolidate with the existing $300 million of 5.250% Senior Notes due 2044.
- 3Upon completion of the offering, the total outstanding principal for this note series will be $600 million.
- 4The offering was conducted under an underwriting agreement with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
- 5The notes were registered under Moody's existing Form S-3 registration statement filed in July 2013.
- 6A press release announcing the pricing of the offering was issued on November 13, 2015.