By Aleesia Forni
Virginia Beach, March 13 - BlackRock Inc. priced $1 billion of 3.5% 10-year senior notes on Thursday at Treasuries plus 87.5 basis points, according to a market source.
Pricing was in line with talk.
The notes (A1/A+/) priced at 99.66 to yield 3.54%.
BofA Merrill Lynch, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes including the repayment of debt, according to a previous 424B5 filed with the Securities and Exchange Commission.
The investment management company is based in New York City.
| Issuer: | BlackRock Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | March 18, 2024
|
| Bookrunners: | BofA Merrill Lynch, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC
|
| Coupon: | 3.5%
|
| Price: | 99.66
|
| Yield: | 3.54%
|
| Spread: | Treasuries plus 87.5 bps
|
| Trade date: | March 13
|
| Settlement date: | March 18
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Price talk: | Treasuries plus 87.5 bps area
|
| Distribution: | SEC-registered
|
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