State Street Corporation Prices $500 Million Senior Debt Offering
May 19 2009 - 4:23PM
Business Wire
State Street Corporation (NYSE: STT) today announced the pricing
of its previously announced offering of $500 million of 4.30%
senior notes due May 30, 2014. These notes are not guaranteed under
the Federal Deposit Insurance Corporation�s Temporary Liquidity
Guarantee Program. The offering is being conducted as a public
offering registered under the Securities Act of 1933, as
amended.
The notes will be offered to the public at a price of 99.905% of
principal amount. State Street estimates that the net proceeds from
the offering will be approximately $498 million, after deducting
estimated expenses and underwriting discounts and commissions.
Subject to consultation with its banking regulators, State Street
plans to notify the US Treasury of its intention to repurchase the
US Treasury�s preferred stock and common stock purchase warrant
investment in State Street under the TARP Capital Purchase Program.
If permitted to do so, the company expects to repurchase the
preferred stock and warrant with the proceeds of this offering and
the offering of $2.0 billion of its common stock previously
announced on May 18, 2009. State Street intends to use offering
proceeds not used for this repurchase for general corporate
purposes.
Goldman, Sachs & Co. and Morgan Stanley & Co.
Incorporated are joint book-running managers for the offering.
State Street has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission for the
offering to which this communication relates. Before you invest,
you should read the prospectus in the registration statement (and
the supplement thereto) and other documents State Street has filed
with the SEC for more complete information about State Street and
this offering. You may get these documents for free by visiting
EDGAR on the SEC web site at www.sec.gov. Alternatively, State
Street, any underwriter or any dealer participating in this
offering will arrange to send you the prospectus if you request it
by contacting Goldman, Sachs & Co., Attention: Prospectus
Department, 85 Broad Street, New York, NY 10004, telephone: (866)
471-2526, facsimile: (212) 902-9316, email:
prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co.
Incorporated, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014, telephone: (866) 718-1649, email:
prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
State Street Corporation (NYSE: STT) is the world�s leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading.
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024