Offering reinforces State Street’s commitment to inclusion and diversity in the financial services industry
BOSTON–(BUSINESS WIRE)–State Street Corporation (NYSE: STT) announced today that it has issued an aggregate principal amount of $2 billion of senior unsecured debt. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversity and equity efforts, with Samuel A. Ramirez & Company, Inc. acting as a joint book-running manager, and CAVU Securities, LLC, Independence Point Securities LLC, and Siebert Williams Shank & Co., LLC, each acting as co-managers. All four broker-dealers are owned by diverse groups and, collectively, have underwritten 33% of the securities in the issuance. The underwriting syndicate also included BofA Securities, Inc., Deutsche Bank Securities Inc., and Goldman Sachs & Co. LLC each acting as joint book-running managers.
“We are pleased to once again engage with diverse partners on this debt issuance, furthering our firm-wide commitment to inclusion and diversity,” said Kimberly DeTrask, Treasurer at State Street Corporation. “We remain focused on increasing our partnership with diverse counterparts while also increasing representation and opportunities across our industry and in our communities.”
This marks State Street’s eighth consecutive offering where the underwriting syndicate has been structured in a manner consistent with State Street’s inclusion, diversity and equity strategy, reflecting the firm’s ongoing efforts to amplify the impact of its environmental, social and governance initiatives.
“We are excited to have been an active joint bookrunning manager on State Street’s $2 billion bond issue this week,” said Sam Ramirez Jr., Senior Managing Director, Samuel A. Ramirez & Company, Inc. “Working on this transaction in the same capacity as our big bank counterparts enables us to demonstrate our capabilities to the market and further develop our fixed income franchise. We are grateful to State Street for its strong partnership and for giving us the chance to compete at the highest level. Opportunities such as these have been essential to our firm’s growth throughout our 52-year history.”
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 $37.6 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2023. State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of March 31, 2023 includes approximately $59 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. Investing involves risk including the risk of loss of principal.
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