State Street Corporation Issues $2 Billion in Senior Notes Across Three Tranches

State Street Corporation (NYSE: STT) has completed a public offering of $2 billion in senior notes, consisting of:

$300 million in Floating Rate Senior Notes due 2028

$700 million in Fixed-to-Floating Rate Senior Notes due 2028

$1 billion in 4.834% Senior Notes due 2030

The offering was made under an existing shelf registration and executed pursuant to an underwriting agreement with Morgan Stanley, Citigroup, HSBC, and Loop Capital. The issuance was carried out under the Indenture framework established with U.S. Bank Trust Company.

Net proceeds are expected to total approximately $1.991 billion, after underwriting discounts and expenses. Legal counsel WilmerHale issued an opinion confirming the Notes' legality. The capital raise is expected to support State Street’s general corporate purposes.