S&P Global Commences $2 Billion Senior Notes Offering by Mobility Global Inc. Ahead of Planned Spin-Off
S&P Global announced the commencement of a $2,000,000,000 private offering of senior notes by Mobility Global Inc., a recently formed holding company for the Mobility division that S&P Global intends to spin off to shareholders. The offering consists of three tranches: senior notes due 2029, 2031, and 2036. Mobility Global has also entered into a $500 million senior unsecured revolving credit facility. Net proceeds will be held in escrow pending the separation and used to fund a cash payment to S&P Global as con...
Key takeaways
$2 billion senior notes offering by Mobility Global Inc. in three tranches due 2029, 2031, and 2036
$500 million senior unsecured revolving credit facility entered into concurrently
Net proceeds held in escrow pending satisfaction of separation completion conditions
Proceeds to fund cash payment to S&P Global as consideration for transferred assets, liabilities, and entities
Remaining proceeds for estimated fees, expenses, and general corporate purposes
Notes offered privately to qualified institutional buyers under Rule 144A and Regulation S without SEC registration
Registration rights agreement obligates issuer to file exchange registration statement
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