Summary by Moomoo AI
Blackrock successfully priced a $2.5 billion debt offering on July 17, 2024, comprising three tranches of senior unsecured notes. The offering includes $800M of 4.600% Notes due 2027, $500M of 4.900% Notes due 2035, and $1.2B of 5.350% Notes due 2055. The notes will be issued by Blackrock Funding, Inc. and fully guaranteed by Blackrock.The net proceeds are intended to fund part of the cash consideration for Blackrock's proposed acquisition of Preqin Holding Limited, expected to close before year-end 2024. The 2027 Notes are subject to a special mandatory redemption if the Preqin Transaction is not consummated. The offering is expected to close on July 26, 2024, subject to customary conditions.Morgan Stanley, J.P. Morgan, BofA Securities, and Wells Fargo Securities are acting as joint book-running managers for the offering. The notes are being offered pursuant to an effective shelf registration statement filed with the SEC.
