BlackRock to Raise $1 Billion to Retire Higher Interest Loan Among Other Uses

Posted on 12/03/2021

On December 1, 2021, BlackRock, Inc. entered into an underwriting agreement with Morgan Stanley & Co. LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein, pursuant to which BlackRock agreed to sell to the underwriters $1,000,000,000 aggregate principal amount of its 2.10% Notes due 2032, for resale by the Underwriters pursuant to BlackRock’s registration statement on Form S-3. The offering is expected to result in net proceeds to BlackRock of approximately $986,600,000. BlackRock intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of all or a portion of its outstanding 3.375% Notes due 2022.

The maturity date is February 25, 2032.

BlackRock has made minority investments in the digital distribution companies Envestnet, Scalable Capital, iCapital, Acorns, and Embark. In January 2021, BlackRock also announced a minority investment in Clarity AI, a sustainability analytics and data science platform.

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