NEW YORK, Aug. 10, 2020 /PRNewswire/ -- S&P Global
(NYSE: SPGI) (the "Company") today announced that it has priced a
public offering of $600,000,000
aggregate principal amount of 1.250% senior notes due 2030 and
$700,000,000 aggregate principal
amount of 2.300% senior notes due 2060. Goldman Sachs & Co.
LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan
Stanley & Co. LLC are acting as joint book-running managers in
connection with the offering.
The senior notes due 2030 were priced at 99.514% of their
principal amount with a yield to maturity of 1.302% and the senior
notes due 2060 were priced at 98.427% of their principal amount
with a yield to maturity of 2.361%. Each series of notes will be
unsecured obligations of the Company and will be guaranteed by its
subsidiary, Standard & Poor's Financial Services LLC. The
closing of the sale of the notes is expected to occur on or about
August 13, 2020, subject to customary
closing conditions.
The net proceeds from the offering, together with cash on hand
if and to the extent necessary, will be used to pay the purchase
price for, and accrued and unpaid interest on, any and all of the
Company's outstanding 4.400% senior notes due 2026 (the "2026
Notes"), its outstanding 6.550% senior notes due 2037 (the "2037
Notes") and its outstanding 4.500% senior notes due 2048 (the "2048
Notes") validly tendered (and not validly withdrawn) and accepted
for purchase pursuant to a cash tender offer announced separately
today, and to pay related fees and expenses in connection with the
tender offer. Completion of this offering is not contingent upon
completion of the tender offer. Completion of the tender offer is
contingent on completion of this offering. To the extent that all
of the outstanding 2026 Notes are not tendered and purchased in the
tender offer, the Company may, but is not obligated to, use a
portion of any remaining net proceeds from this offering to redeem
all or a portion of the remaining 2026 Notes.
The notes are being offered pursuant to an effective
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any of the Company's notes, nor shall there be any sale of the
notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Copies of the prospectus supplement relating to this offering
may be obtained by contacting: Goldman Sachs & Co. LLC, Attn:
Prospectus Department, at 200 West Street, New York, NY 10282, telephone: 866-471-2526 or
fax: 212-902-9316; BofA Securities, Inc., Attn: Prospectus
Department, at 200 North College Street, NC1-004-03-43, Charlotte
NC 28255-0001, telephone: 800-294-1322 or email:
dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, Attn:
Investment Grade Syndicate Desk, at 383 Madison Avenue,
New York, NY 10179, telephone:
212-834-4533 or Morgan Stanley & Co. LLC, Attn: Investment
Banking Division, at 1585 Broadway, 29th Floor, New York, NY 10036, telephone: 212-761-6691 or
fax: 212-507-8999.
Forward-Looking Statements: This press release
contains "forward-looking statements," as defined in the Private
Securities Litigation Reform Act of 1995. These statements,
which express management's current views concerning future events,
trends, contingencies or results, appear at various places in this
press release and use words like "anticipate," "assume," "believe,"
"continue," "estimate," "expect," "forecast," "future," "intend,"
"plan," "potential," "predict," "project," "strategy," "target" and
similar terms, and future or conditional tense verbs like "could,"
"may," "might," "should," "will" and "would." For example,
management may use forward-looking statements when addressing
topics such as whether the offering will be completed, the
anticipated use of net proceeds from the offering, the outcome of
the tender offer with respect to the 2026 Notes, 2037 Notes and
2048 Notes and any redemption of the 2026 Notes.
Forward-looking statements are subject to inherent risks and
uncertainties. Factors that could cause actual results to differ
materially from those expressed or implied in forward-looking
statements include, among other things, market and other
conditions, as well as factors described in the Company's filings
with the SEC, including the Risk Factors sections in the prospectus
related to this offering and in the Company's most recently filed
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and
any subsequent document it files with the SEC.
Accordingly, the Company cautions readers not to place undue
reliance on any forward-looking statements, which speak only as of
the dates on which they are made. The Company undertakes no
obligation to update or revise any forward-looking statement to
reflect events or circumstances arising after the date on which it
is made, except as required by applicable law.
About S&P Global
S&P Global is the world's foremost provider of credit ratings,
benchmarks and analytics in the global capital and commodity
markets, offering ESG solutions, deep data, and insights on
critical business factors. We've been providing essential
intelligence that unlocks opportunity, fosters growth, and
accelerates progress for more than 160 years. Our divisions include
S&P Global Ratings, S&P Global Market Intelligence, S&P
Dow Jones Indices, and S&P Global Platts. For more information,
visit www.spglobal.com.
Contact:
Investor Relations:
Chip
Merritt
Senior Vice President, Investor Relations
(212) 438-4321 (office)
chip.merritt@spglobal.com
News Media:
David
Guarino
Chief Communications Officer
(212) 438-1471 (office)
dave.guarino@spglobal.com
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SOURCE S&P Global