Summary
McGraw Hill Financial, Inc. (now S&P Global Inc.) announced on August 13, 2015, the successful pricing of a significant debt offering totaling $2.0 billion. This offering comprised three tranches of senior notes with varying interest rates and maturity dates: $400 million of 2.50% notes due 2018, $700 million of 3.30% notes due 2020, and $900 million of 4.40% notes due 2026. The primary purpose of this debt issuance is to fund the previously announced acquisition of SNL Financial LC, a key strategic move, with any remaining proceeds allocated to general corporate purposes. The notes were issued via a private placement under Rule 144A and Regulation S, indicating they were offered to institutional investors. The closing was anticipated for August 18, 2015. The notes are guaranteed by the company's subsidiary, Standard & Poor’s Financial Services LLC, providing an additional layer of security for investors.
Key Highlights
- 1McGraw Hill Financial priced a $2.0 billion senior notes offering across three tranches.
- 2The offering includes $400 million (2.50% due 2018), $700 million (3.30% due 2020), and $900 million (4.40% due 2026).
- 3Proceeds will be used to finance the acquisition of SNL Financial LC and for general corporate purposes.
- 4The debt was issued through a private placement (Rule 144A and Regulation S) to institutional investors.
- 5The offering was expected to close on August 18, 2015.
- 6The senior notes are guaranteed by Standard & Poor’s Financial Services LLC.