State Street Corporation issued an aggregate principal amount of $1 billion of senior debt and $500 million of senior subordinated debt. The offering was structured in keeping with State Street’s ongoing diversity, equity and inclusion efforts, with Siebert Williams Shank acting as a joint book-running manager and Academy Securities, Cabrera Capital Markets, R. Seelaus & Co. and Samuel A. Ramirez & Company each acting as co-managers. Led by a diverse group of owners, the five broker-dealers collectively underwrote 40% of the securities in the issuance. The underwriting syndicate also included Citigroup Global Markets, HSBC Securities (USA) and UBS Securities, which each acted as joint book-running managers.
“This debt issuance represents our 10th consecutive engagement with diverse underwriters, and we are very pleased to continue that partnership,” Kimberly DeTrask, treasurer of State Street, said. “We remain committed to increasing representation in our industry and communities in alignment with our equity goals highlighted in State Street’s 10 actions, racial equity at work certifications and civil rights audit.”
“The team at Siebert Williams Shank is pleased to have served as a joint book-running manager on State Street’s $1.5 billion bond issuance,” Suzanne Shank, president and CEO of Siebert Williams Shank, said. “State Street’s long-term collaboration and mandate enables SWS to showcase our firm’s capabilities and expand the investor base that participates in State Street’s transactions. State Street remains a leading partner in its commitment to broadening opportunities for minority and women-owned business enterprises.”
