State Street Corporation (STT, Financial) has announced the successful issuance of $2 billion in senior notes through a public offering. The offering includes $300 million in Floating Rate Senior Notes due 2028, $700 million in Fixed-to-Floating Rate Senior Notes due 2028, and $1 billion in 4.834% Senior Notes due 2030. This issuance was conducted under a registration statement on Form S-3 and a related prospectus supplement filed with the Securities and Exchange Commission (SEC).
The notes were issued pursuant to an Indenture dated October 31, 2014, as amended and supplemented by subsequent indentures. U.S. Bank Trust Company, National Association, served as the trustee for this issuance. The underwriting agreement for the sale was dated April 22, 2025, and involved major financial institutions including Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Loop Capital Markets LLC.
State Street expects to receive net proceeds of approximately $1.991 billion from this offering, after accounting for underwriting discounts and estimated offering expenses. The legal opinion regarding the issuance and sale of the notes was provided by Wilmer Cutler Pickering Hale and Dorr LLP, confirming the legality of the notes.
This strategic financial move is expected to bolster State Street's financial position, providing the company with additional capital to support its operations and growth initiatives.
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