State Street Issues $2.25 Billion in Senior Debt to Promote Diversity

State Street Corporation, a prominent financial services provider, has announced the issuance of $2.25 billion in senior debt through its principal banking subsidiary, State Street Bank and Trust Company. This transaction, which closed successfully, aligns with State Street's dedication to enhancing inclusion, diversity, and equity within the financial industry.

The debt issuance was notably managed by a syndicate of broker-dealers owned by underrepresented groups. Academy Securities, Inc. served as a joint book-running manager, while AmeriVet Securities, Inc., CastleOak Securities L.P., Loop Capital Markets LLC, and Samuel A. Ramirez & Company, Inc. acted as co-managers. Together, these firms underwrote 40% of the securities. Additional joint book-running managers included Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., and Goldman Sachs & Co. LLC.

Paul Francisco, State Street's Chief Diversity Officer, emphasized the company's commitment to fostering a more inclusive economy by collaborating with diverse and veteran-owned firms. This initiative is part of State Street's broader strategy to build stronger markets and communities.

Chance Mims, CEO of Academy Securities, expressed pride in partnering with State Street, highlighting the opportunity to support military veterans in pursuing finance careers.

State Street Corporation, with $46.8 trillion in assets under custody and/or administration and $4.7 trillion in assets under management as of September 30, 2024, operates globally across more than 100 markets, employing approximately 53,000 people. For further details, visit State Street's website.

This strategic debt issuance underscores State Street's leadership in promoting diversity and supporting underrepresented groups in the financial sector.