Moody's Corporation Prices Senior Unsecured Notes Offering
February 27 2015 - 4:38PM
Business Wire
Moody’s Corporation (NYSE:MCO) (“Moody’s” or the “Company”)
today announced that it priced an underwritten public offering of
€500 million aggregate principal amount of 1.75% senior unsecured
notes due 2027. The offering is expected to close on March 9, 2015,
subject to customary closing conditions.
Moody’s expects to use the net proceeds from this offering for
general corporate purposes, including working capital; capital
expenditures; acquisitions of or investments in businesses or
assets; the redemption and repayment of other indebtedness; and
purchases of its common stock under its ongoing stock repurchase
program.
J.P. Morgan Securities plc, Merrill Lynch International and The
Royal Bank of Scotland plc are the joint book-running managers of
the notes offering.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the “SEC”). A prospectus supplement and accompanying
prospectus describing the terms of this offering will be filed with
the SEC. Copies of the prospectus supplement and the accompanying
prospectus may be obtained at no cost by visiting EDGAR on the SEC
website at www.sec.gov. Alternatively, J.P. Morgan Securities plc,
Merrill Lynch International and The Royal Bank of Scotland plc can
arrange to send you the prospectus if you request it by calling
J.P. Morgan Securities plc at 1-212-834-4533, Merrill Lynch
International at 1-800-294-1322 or The Royal Bank of Scotland plc
at 1-866-884-2071.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
ABOUT MOODY'S CORPORATION
Moody's is an essential component of the global capital markets,
providing credit ratings, research, tools and analysis that
contribute to transparent and integrated financial markets. Moody’s
Corporation (NYSE: MCO) is the parent company of Moody's Investors
Service, which provides credit ratings and research covering debt
instruments and securities, and Moody's Analytics, which offers
leading-edge software, advisory services and research for credit
and economic analysis and financial risk management. Moody’s, which
reported revenue of $3.3 billion in 2014, employs approximately
9,900 people worldwide and maintains a presence in 33
countries.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995
Certain statements contained in this release are forward-looking
statements and are based on future expectations, plans and
prospects for the Company’s business and operations that involve a
number of risks and uncertainties. The forward-looking statements
in this release are made as of the date hereof, and the Company
disclaims any duty to supplement, update or revise such statements
on a going-forward basis, whether as a result of subsequent
developments, changed expectations or otherwise. In connection with
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, the Company is identifying examples of factors,
risks and uncertainties that could cause actual results to differ,
perhaps materially, from those indicated by these forward-looking
statements. Those factors, risks and uncertainties include, but are
not limited to, the current world-wide credit market disruptions
and economic slowdown, which is affecting and could continue to
affect the volume of debt and other securities issued in domestic
and/or global capital markets; other matters that could affect the
volume of debt and other securities issued in domestic and/or
global capital markets, including credit quality concerns, changes
in interest rates and other volatility in the financial markets;
the level of merger and acquisition activity in the US and abroad;
the uncertain effectiveness and possible collateral consequences of
U.S. and foreign government initiatives to respond to the current
world-wide credit market disruptions and economic slowdown;
concerns in the marketplace affecting our credibility or otherwise
affecting market perceptions of the integrity or utility of
independent credit agency ratings; the introduction of competing
products or technologies by other companies; pricing pressure from
competitors and/or customers; the level of success of new product
development and global expansion; the impact of regulation as a
nationally recognized statistical rating organization, the
potential for new U.S., state and local legislation and
regulations, including provisions in the Dodd-Frank Wall Street
Reform and Consumer Protection Act (the “Financial Reform Act”) and
regulations resulting from that act; the potential for increased
competition and regulation in the EU and other foreign
jurisdictions; exposure to litigation related to our rating
opinions, as well as any other litigation to which the Company may
be subject from time to time; provisions in the Financial Reform
Act legislation modifying the pleading standards, and EU
regulations modifying the liability standards, applicable to credit
rating agencies in a manner adverse to credit rating agencies;
provisions of EU regulations imposing additional procedural and
substantive requirements on the pricing of services; the possible
loss of key employees; failures or malfunctions of our operations
and infrastructure; any vulnerabilities to cyber threats or other
cybersecurity concerns; the outcome of any review by controlling
tax authorities of the Company’s global tax planning initiatives;
the outcome of those legacy tax matters and legal contingencies
that relate to the Company, its predecessors and their affiliated
companies for which the Company has assumed portions of the
financial responsibility; the impact of mergers, acquisitions or
other business combinations and the ability of the Company to
successfully integrate the acquired businesses; currency and
foreign exchange volatility; the level of future cash flows; the
levels of capital investments; and a decline in the demand for
credit risk management tools by financial institutions. These
factors, risks and uncertainties as well as other risks and
uncertainties that could cause the Company’s actual results to
differ materially from those contemplated, expressed, projected,
anticipated or implied in the forward-looking statements are
described in greater detail under “Risk Factors” in Part I, Item 1A
of the Company’s Annual Report on Form 10-K for the year ended
December 31, 2014, and in other filings made by the Company from
time to time with the SEC or in materials incorporated therein.
Stockholders and investors are cautioned that the occurrence of any
of these factors, risks and uncertainties may cause the Company’s
actual results to differ materially from those contemplated,
expressed, projected, anticipated or implied in the forward-looking
statements, which could have a material and adverse effect on the
Company’s business, results of operations and financial condition.
New factors may emerge from time to time, and it is not possible
for the Company to predict new factors, nor can the Company assess
the potential effect of any new factors on it.
MICHAEL ADLER, 212-553-4667Senior Vice PresidentCorporate
Communicationsmichael.adler@moodys.comorSALLI SCHWARTZ,
212-553-4862Global Head of Investor
Relationssallilyn.schwartz@moodys.com
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