Moody's Corporation (NYSE:MCO), a prominent player in the credit rating industry, has entered into an agreement with several underwriters for the issuance and sale of $500 million in senior notes, according to an 8-K filing with the Securities and Exchange Commission.
The notes, with a 5.000% interest rate and maturing in 2034, are part of a public offering based on a registration statement filed on February 22, 2023. The closing of the offering is anticipated for August 5, 2024, pending customary conditions.
The underwriting syndicate includes BofA Securities, Inc., Citigroup Global Markets Inc., HSBC (LON:HSBA) Securities (USA) Inc., and J.P. Morgan Securities LLC. The offering of these senior notes aims to bolster Moody's financial structure and support its various business operations.
The details of the underwriting agreement were summarized in the filing and can be further reviewed in the attached Exhibit 1.1 of the 8-K report. This financial maneuver is part of Moody's broader strategy to manage its capital and invest in growth opportunities.
Investors and market watchers can access the full 8-K report, which includes the underwriting agreement and other related financial statements, on the SEC's website. The report provides a comprehensive overview of the transaction's specifics and the legal framework governing the issuance of the senior notes.
Moody's, also known for its former name Dun & Bradstreet Corp (NYSE:DNB_old), has a long-standing reputation in the financial services industry, with a focus on providing credit ratings, research, tools, and analysis that contribute to transparent and integrated financial markets.
The information contained in this article is based on the latest 8-K filing by Moody's Corporation and does not include any speculative content or subjective assessment of the company's market position or future prospects.
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