Summary
Moody's Corporation (MCO) announced on August 10, 2021, the successful execution of an underwriting agreement for the issuance and sale of senior notes. This offering includes $600 million of 2.000% Senior Notes due 2031 and $600 million of 2.750% Senior Notes due 2041, totaling $1.2 billion in aggregate principal amount. The offering was registered under the Company’s existing Form S-3 registration statement filed in February 2020. This significant debt issuance provides Moody's with substantial capital, likely intended for general corporate purposes, strategic initiatives, or to manage its existing debt structure. The fixed coupon rates on these senior notes offer a clear understanding of future interest expenses. Investors should note the maturity dates of 2031 and 2041, indicating long-term capital raises by the company.
Key Highlights
- 1Moody's Corporation issued $1.2 billion in aggregate principal amount of senior notes.
- 2The offering comprises $600 million of 2.000% Senior Notes due 2031 and $600 million of 2.750% Senior Notes due 2041.
- 3The issuance was conducted through an underwriting agreement with BofA Securities, Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC.
- 4The notes were registered under Moody's existing Form S-3 registration statement (No. 333-236611).
- 5The event date for this transaction was August 9, 2021, with the filing on August 10, 2021.
- 6This move signifies a significant capital raise for the company.