Source: Inves ting Published 07/31/2024, 14:11
Moody’s Corporation (NYSE: MCO), a leading credit ratings firm, has entered into an agreement with several underwriters to issue and sell $500 million of senior notes, according to an 8-K filing with the Securities and Exchange Commission.
The notes, which have a coupon of 5.000% and mature in 2034, are part of a public offering pursuant to a registration statement filed on February 22, 2023. The offering is expected to close on August 5, 2024, subject to customary conditions.
The underwriters include BofA Securities, Inc., Citigroup Global Markets Inc., HSBC Securities (USA) and J.P. Morgan Securities LLC. The offering of these senior notes is intended to strengthen Moody’s financial structure and support its various business operations.
The details of the underwriting agreement are summarized in the filing and can be further reviewed in Exhibit 1.1 of the attached 8-K. This financial maneuver is part of Moody’s broader strategy to manage its capital and invest in growth opportunities.
Investors and market observers can view the full 8-K, which includes the underwriting agreement and other relevant financial statements, on the SEC website. The report provides a comprehensive overview of the transaction details and the legal framework governing the issuance of the senior notes.
Moody’s, also known by its former name Dun & Bradstreet Corp., has a long-standing reputation in the financial services industry, focusing on providing credit ratings, research, tools and analysis that contribute to transparency and integrity in financial markets.
The information contained in this article is based on Moody’s Corporation’s most recent 8-K filing and does not include any speculative content or subjective assessment of the company’s market position or future prospects.
