State Street Partners with Diverse Firms to Underwrite $1 Billion of Senior Debt
March 18 2024 - 3:30PM
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 that it has issued an aggregate principal amount of $1
billion of senior debt. The offering, which closed today, was
structured in keeping with State Street’s ongoing inclusion,
diversity, and equity efforts, with Blaylock Van, LLC acting as a
joint book-running manager, and Cabrera Capital Markets LLC, CAVU
Securities LLC, Mischler Financial Group, Inc. and Tigress
Financial Partners LLC 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, Scotia Capital (USA) Inc. and UBS Securities LLC
each acting as joint book-running managers.
“We are once again pleased to partner with a diverse group of
firms on our debt offerings, and proud to announce the successful
execution of this latest transaction,” said Kimberly DeTrask,
executive vice president and treasurer for State Street. “These
debt issuances successfully execute on State Street’s financial
plans, increase industry representation, and support our firm’s
mission to create better outcomes for the world’s investors and the
people they serve.”
This marks State Street’s twelfth consecutive offering
engagement 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
its sustainability and impact initiatives.
“Blaylock Van is thrilled to have participated as one of four
joint book runners in State Street’s $1 billion, 3-year fixed rate
senior notes offering. The multifaceted nature of State Street’s
relationship with diverse firms, like Blaylock Van, is a testament
to its commitment to institution building and creating a lasting
legacy in the financial markets. We are honored to be partners with
State Street in this transformative journey,” said Founder and
Chief Executive Officer of Blaylock Van, LLC, Eric Standifer.
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 $41.8 trillion in assets
under custody and/or administration and $4.1 trillion* in assets
under management as of December 31, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 46,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of December 31, 2023 includes
approximately $64 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: Ed Patterson +1 (404) 213-3106
epatterson@statestreet.com
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