8-KRegulation FDOther Events

S&P Global Inc. 8-K Report, Regulation FD Disclosure (May 3, 2018)

Filed May 3, 2018For Securities:SPGI

Summary

S&P Global Inc. (SPGI) has filed an 8-K report on May 3, 2018, primarily to disclose its intention to redeem its outstanding 2.500% Senior Notes due 2018 (the "2018 Notes"). This redemption is planned to be funded by the proceeds from a new offering of senior notes. Investors should note that this filing is a disclosure of intent and does not constitute a formal notice of redemption, with no assurance provided that the redemption will occur. The company also announced its intention to launch a registered public offering of new senior notes. The net proceeds from this new offering are earmarked for fully or partially redeeming the existing $400 million principal amount of 2018 Notes, with any remaining funds to be used for general corporate purposes. The new notes will be guaranteed by S&P Global Inc.'s subsidiary, Standard & Poor's Financial Services LLC.

Key Highlights

  • 1S&P Global Inc. (SPGI) plans to redeem its 2.500% Senior Notes due 2018.
  • 2The redemption of the 2018 Notes will be funded by the proceeds from a new senior notes offering.
  • 3The company intends to offer new senior notes in a registered public offering.
  • 4The aggregate principal amount of the 2018 Notes outstanding is $400 million.
  • 5Net proceeds from the new offering will be used for the redemption and general corporate purposes.
  • 6The new notes will be guaranteed by the subsidiary Standard & Poor's Financial Services LLC.
  • 7This filing serves as a disclosure of intent, not a formal redemption notice.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors about S&P Global Inc.'s intention to redeem its outstanding 2.500% Senior Notes due 2018. This redemption will be financed by the proceeds from a planned offering of new senior notes.

S&P Global intends to redeem the full outstanding aggregate principal amount of its 2018 Notes, which totals $400 million.

The filing states that the company 'intends' to redeem the notes and that 'no assurance is given that a notice of redemption... will be given or that the 2018 Notes will be redeemed.' This means the redemption is planned but not guaranteed at this stage.

The net proceeds from the new senior notes offering are intended to fund all or a portion of the redemption of the $400 million of 2018 Notes. Any remaining proceeds will be used for general corporate purposes.