S&P Global’s Mobility unit raises $2 billion via senior notes as it prepares for a shareholder spinoff.
S&P Global’s Mobility Global division launched a $2.0 billion private offering of senior notes on Monday. The move precedes the unit’s planned spinoff to shareholders, according to the company’s announcement.
The issuer also secured a $500 million senior unsecured revolving credit facility. Details on the notes’ maturity, coupon, or use of proceeds were not disclosed in the release.
No immediate market reaction was reported following the announcement.