State Street Partners With Diverse Firms to Underwrite $1.5 Billion of Senior Unsecured Debt
August 03 2023 - 4:30PM
Business Wire
Offering affirms 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 $1.5 billion of senior
unsecured debt. The offering, which closed today, was structured in
keeping with State Street’s core inclusion, diversity and equity
efforts, with Academy Securities, Inc. and Loop Capital Markets LLC
acting as joint book-running managers, and Blaylock Van, LLC,
CastleOak Securities, L.P. and R. Seelaus & Co., LLC each
acting as co-managers. All five broker-dealers are owned by diverse
groups and, collectively, have underwritten over 50% of the
securities in the issuance. The underwriting syndicate also
included Morgan Stanley & Co. LLC and Goldman Sachs & Co.
LLC, each acting as joint book-running managers.
"We are pleased to continue to highlight the remarkable
capabilities of minority, women and Veteran-owned firms as part of
the syndicate to underwrite our debt offering,” said Paul
Francisco, chief diversity officer at State Street. “These firms
are not only strongly equipped to lead these transactions but are
also part of the ecosystem that helps to address and improve
economic opportunity for the communities they represent."
This marks State Street’s ninth consecutive debt 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.
“By selecting Loop Capital Markets as a book-runner for the
second time, State Street sends a powerful message of support for
meaningful roles by diverse-owned firms in capital markets
transactions. It’s a direct message to issuers at large of the
leadership and forward thinking of State Street and its management,
showing that diverse-owned firms can perform quite well in
leadership roles.” said Jim Reynolds, founder and chief executive
officer of Loop Capital.
About State Street
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 $39.6 trillion in assets
under custody and/or administration and $3.8 trillion* in assets
under management as of June 30, 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 June 30, 2023 includes
approximately $63 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.
© 2023 State Street Corporation - All Rights Reserved
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230803480378/en/
Media: Ed Patterson Epatterson@statestreet.com +1 404 213
3106
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2024 to Aug 2024
State Street (NYSE:STT)
Historical Stock Chart
From Aug 2023 to Aug 2024