BOSTON--(BUSINESS WIRE)--State Street Corporation (“State Street”) (NYSE: STT) announced today an issuance of $2.3 billion in aggregate principal amount of senior debt. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversity, and equity efforts, with Siebert Williams Shank & Co., LLC acting as a joint book-running manager, and CAVU Securities LLC, C.L. King & Associates, Inc., Penserra Securities LLC and Roberts & Ryan, Inc., 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, BMO Capital Markets Corp. and Citigroup Global Markets Inc., each acting as joint book-running managers.
“Each of our debt issuances is aligned with State Street’s broader business objectives, including a specific aim to increase industry representation and promote better outcomes for global investors,” said Kimberly DeTrask, executive vice president and treasurer of State Street. “We are proud to announce our latest debt issuance, once again supported by a diverse set of firms, which reinforces our commitment to fostering strong financial partnerships.”
The underwriting syndicate on this debt offering 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.
"Siebert Williams Shank is pleased to have served as joint book-runner on State Street's $2.3 billion bond issuance,” said Suzanne Shank, president and chief executive officer of Siebert Williams Shank & Co., LLC. This important mandate for our firm enabled us to bring all of our capabilities to assist State Street in achieving its capital markets goals and we applaud their commitment to broadening business opportunities for diverse-owned firms like our firm. State Street has been our valued partner for many years and continues to demonstrate to the financial services industry the benefits of inclusivity and empowerment.”
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 $46.8 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management as of September 30, 2024 includes approximately $83 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.
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