Summary
McGraw Hill Financial, Inc. (now S&P Global Inc.) announced on May 20, 2015, the pricing of a significant debt offering. The company priced $700 million in aggregate principal amount of 4.00% senior notes due in 2025. This private placement, conducted under Rule 144A and Regulation S, is expected to close on May 26, 2015, and the proceeds will be used for general corporate purposes. This issuance of debt provides the company with capital for its ongoing operations and potential future investments. The guaranteed nature of the notes by its subsidiary, Standard & Poor's Financial Services LLC, may offer additional security to investors. The debt matures in ten years and carries a fixed interest rate, offering predictability for both the company's financing costs and investor returns.
Key Highlights
- 1Pricing of $700 million in 4.00% senior notes due 2025.
- 2Debt offering conducted as a private placement under Rule 144A and Regulation S.
- 3Expected closing date for the offering is May 26, 2015.
- 4Proceeds from the offering are intended for general corporate purposes.
- 5Notes will bear interest at 4.00% per annum, paid semi-annually.
- 6The notes mature on June 15, 2025.
- 7Standard & Poor's Financial Services LLC will guarantee the notes.