State Street Hires Veteran-Owned Firms to Underwrite 2027 Senior Notes Offering
November 19 2021 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT) announced today that it
worked with veteran-owned firms acting as bookrunners and
co-managers to syndicate a $500 million senior note issuance. The
offering, which closed yesterday, reinforces the firm’s commitment
to veterans and their families and overall representation in the
capital markets and broader financial services industry.
In this transaction, State Street issued fixed-to-floating rate
senior notes at a coupon of 1.684 percent. State Street hired three
veteran-owned firms to distribute the notes to investors, which
priced on November 15. The full syndicate includes Morgan Stanley,
Academy Securities, BofA Securities and Deutsche Bank Securities as
joint book-running managers and Citigroup, Drexel-Hamilton, Lloyds
Securities and Mischler Financial Group, Inc. as co-managers. State
Street is proud that more than 25 percent of the notes were
underwritten by veteran-owned firms.
“State Street is proud to support veterans through a variety of
initiatives. Following our recognition of Veteran’s Day in the U.S.
last week, we are pleased to announce this debt offering,” said
Eric Aboaf, Chief Financial Officer of State Street Corporation.
“Our partnership on this issuance with Academy, Mischler and Drexel
Hamilton reinforces State Street’s commitment to veterans and their
families. These firms played a valuable role in helping State
Street achieve its tightest spread on a senior bond issue to
date.”
“State Street has taken the next step in the evolution of
including diverse firms in their banking group, by providing a
military veteran owned firm the opportunity to serve in the role of
joint bookrunner” said Chance Mims, CEO, Academy Securities. “The
Team at Academy Securities is honored by State Street’s leadership
on this front, and was thrilled to participate in support of the
excellent outcome of their recent note offering. Academy
Securities, as well as the military veteran community at large,
benefits from State Street’s vision of delivering and leveraging
different, complementary perspectives through its mission of
Inclusion and Diversity. We are grateful for their continued
partnership.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $43.3 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of September 30, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2021 includes
approximately $60 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
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Media Contact: Ed Patterson epatterson@statestreet.com +1
404-213-3106
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