State Street $1.5 Billion Debt Issuance Involves Four Black-Owned Investment Firms

By Denny Jacob

Financial holding company State Street Corp. said it has issued an aggregate of $1.5 billion of senior unsecured debt as part of its ongoing inclusion, diversity and equity efforts.

Four Black-owned investment firms were involved in the offering, which closed Monday. Siebert Williams Shank & Co LLC and Loop Capital Markets LLC acted as bookrunners, and CastleOak Securities LP and Blaylock Van LLC acted as co-managers. Collectively, these investment firms have underwritten almost half of the debt securities in the issuance.

State Street's offering marks its third such issuance in under a year where syndication has been structured under the Boston, Mass.-based company's inclusion, diversity and equity strategy.

The full underwriting syndicate also included Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC acting as bookrunners, with Citigroup Global Markets Inc. acting as co-manager.

"We are pleased to announce this deal as we begin our celebration of Black History Month in the U.S.," State Street's Financial Chief Eric Aboaf said. "The partnership with these highly regarded Black-owned businesses allows us to amplify our impact as an organization by improving diverse representation within our industry."

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 07, 2022 14:39 ET (19:39 GMT)

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