State Street Partners with Diverse Firms to Underwrite $2 Billion of Senior Unsecured Debt
May 18 2023 - 4:30PM
Business Wire
Offering reinforces State Street’s commitment to inclusion and
diversity in the financial services industry
State Street Corporation (NYSE: STT) announced today that it has
issued an aggregate principal amount of $2 billion of senior
unsecured debt. The offering, which closed today, was structured in
keeping with State Street’s ongoing inclusion, diversity and equity
efforts, with Samuel A. Ramirez & Company, Inc. acting as a
joint book-running manager, and CAVU Securities, LLC, Independence
Point Securities LLC, and Siebert Williams Shank & Co., LLC,
each acting as co-managers. All four broker-dealers are owned by
diverse groups and, collectively, have underwritten 33% of the
securities in the issuance. The underwriting syndicate also
included BofA Securities, Inc., Deutsche Bank Securities Inc., and
Goldman Sachs & Co. LLC each acting as joint book-running
managers.
“We are pleased to once again engage with diverse partners on
this debt issuance, furthering our firm-wide commitment to
inclusion and diversity,” said Kimberly DeTrask, Treasurer at State
Street Corporation. “We remain focused on increasing our
partnership with diverse counterparts while also increasing
representation and opportunities across our industry and in our
communities.”
This marks State Street’s eighth consecutive offering where the
underwriting syndicate has been structured in a manner consistent
with State Street’s inclusion, diversity and equity strategy,
reflecting the firm’s ongoing efforts to amplify the impact of its
environmental, social and governance initiatives.
“We are excited to have been an active joint bookrunning manager
on State Street’s $2 billion bond issue this week,” said Sam
Ramirez Jr., Senior Managing Director, Samuel A. Ramirez &
Company, Inc. “Working on this transaction in the same capacity as
our big bank counterparts enables us to demonstrate our
capabilities to the market and further develop our fixed income
franchise. We are grateful to State Street for its strong
partnership and for giving us the chance to compete at the highest
level. Opportunities such as these have been essential to our
firm’s growth throughout our 52-year history.”
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 $37.6 trillion in assets
under custody and/or administration and $3.6 trillion* in assets
under management as of March 31, 2023. State Street operates
globally in more than 100 geographic markets and employs
approximately 43,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2023 includes
approximately $59 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. Investing involves risk
including the risk of loss of principal.
© 2023 State Street Corporation - All Rights Reserved
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Media: Ed Patterson +1 404 213 3106
epatterson@statestreet.com
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