State Street Partners with Diverse Firms to Underwrite $1 Billion of Senior Debt and $0.5 Billion of Senior Subordinated Debt
November 21 2023 - 4:42PM
Business Wire
State Street Corporation (NYSE: STT) announced today that it has
issued an aggregate principal amount of $1 billion of senior debt
and $0.5 billion of senior subordinated debt. The offering, which
closed today, was structured in keeping with State Street’s ongoing
inclusion, diversity, and equity efforts, with Siebert Williams
Shank & Co., LLC acting as a joint book-running manager, and
Academy Securities, Inc., Cabrera Capital Markets LLC, R. Seelaus
& Co., LLC, and Samuel A. Ramirez & Company, Inc. each
acting as co-managers. All five broker-dealers are owned by diverse
groups and, collectively, have underwritten 40% of the securities
in the issuance. The underwriting syndicate also included Citigroup
Global Markets Inc., HSBC Securities (USA) Inc., and UBS Securities
LLC each acting as joint book-running managers.
“This debt issuance represents our tenth consecutive engagement
with diverse underwriters, and we are very pleased to continue that
partnership,” said Kimberly DeTrask, treasurer of State Street. “We
remain committed to increasing representation in our industry and
communities in alignment with our equity goals highlighted in State
Street’s 10 Actions, Racial Equity at Work Certifications and Civil
Rights Audit.”
“The team at Siebert Williams Shank is pleased to have served as
a Joint Book-Running Manager on State Street’s $1.5 billion bond
issuance,” said Suzanne Shank, president and CEO of Siebert
Williams Shank. “State Street’s long-term collaboration and mandate
enables SWS to showcase our firm’s capabilities and expand the
investor base that participates in State Street’s transactions.
State Street remains a leading partner in its commitment to
broadening opportunities for minority and women-owned business
enterprises.”
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 $40.0 trillion in assets
under custody and/or administration and $3.7 trillion* in assets
under management as of September 30, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 42,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2023 includes
approximately $58 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
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Media: Brendan Paul Mobile: +1 401 644 9182
bpaul2@statestreet.com
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