State Street Announces Issuance of $2.25 Billion of Senior Debt
26 November 2024 - 8:56AM
Business Wire
- This offering reinforces State Street’s commitment to inclusion
and diversity in the financial services industry
State Street Corporation (“State Street”) (NYSE: STT) announced
today an issuance of $2.25 billion in aggregate principal amount of
senior debt by its principal banking subsidiary, State Street Bank
and Trust Company. The offering, which closed today, was structured
in keeping with State Street’s ongoing inclusion, diversity, and
equity efforts, with Academy Securities, Inc. (“Academy
Securities”) acting as a joint book-running manager and AmeriVet
Securities, Inc., CastleOak Securities L.P., Loop Capital Markets
LLC, and Samuel A. Ramirez & Company, Inc. each acting as
co-managers. All five broker-dealers are owned by underrepresented
groups and, collectively, have underwritten 40% of the securities
in the issuance. The underwriting syndicate also included Morgan
Stanley & Co. LLC, Deutsche Bank Securities Inc., and Goldman
Sachs & Co. LLC, each acting as joint book-running
managers.
“At State Street, we value diverse perspectives. Today’s debt
issuance, achieved in partnership with diverse and veteran-owned
firms, highlights our continued commitment to help create a more
inclusive economy by fueling business growth for these firms,” said
Paul Francisco, chief diversity officer for State Street. “Working
together with all of our stakeholders, our debt issuance initiative
aims to build stronger, more resilient markets and
communities.”
The underwriting syndicate on this debt offering has been
structured in a manner consistent with State Street’s inclusion,
diversity, and equity strategy, reflecting State Street’s ongoing
efforts to amplify its sustainability and impact initiatives.
“Academy Securities is honored to serve as a joint
booking-running manager on today’s benchmark transaction. State
Street is a firm that shares our passion for exceeding clients’
expectations while supporting our nation’s military veteran heroes.
Through our partnership, Academy Securities will be able to help
train additional veterans for a meaningful career in finance while
executing at the highest level,” said Chance Mims, founder and
chief executive officer of Academy Securities.
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 $46.8 trillion in assets
under custody and/or administration and $4.7 trillion* in assets
under management as of September 30, 2024, State Street operates
globally in more than 100 geographic markets and employs
approximately 53,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
* Assets under management as of September 30, 2024 includes
approximately $83 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.
© 2024 State Street Corporation
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Media Contact: Brendan Paul Mobile: +1 401 644 9182
Bpaul2@statestreet.com
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