State Street has issued $1 billion in aggregate principal amount of senior debt. The offering, which closed 20 August, was structured in line with State Street’s ongoing inclusion, diversity, and equity efforts, with R. Seelaus & Co. acting as a joint book-running manager, and CastleOak Securities, Drexel Hamilton, Independence Point Securities, and Samuel A. Ramirez & Company, 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 HSBC Securities (USA), BofA Securities, and Deutsche Bank Securities, each acting as joint book-running managers.
Pankaj Vaish, global chief investment officer at State Street, said, “The debt issuance we are announcing today, with a diverse set of firms, underscores the importance we see in broadening our financial partnerships.
“We are proud to announce this latest transaction as these issuances help to advance State Street’s financial and inclusion goals, broaden industry representation and reaffirm our focus on achieving better results for investors and the communities they serve.”
The issuance represents fourteenth consecutive offering engagement where the underwriting syndicate has been structured in a manner consistent with State Street’s inclusion, diversity, and equity strategy.
