BlackRock Sells $2.5B In Bonds To Help Fund Preqin Deal: Report
Portfolio Pulse from Michael Juliano
BlackRock, Inc. (NYSE:BLK) is selling $2.5 billion in bonds to fund its $3.2 billion acquisition of private-markets data company Preqin. The bond sale is being led by Bank of America, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The acquisition is expected to close by the end of the year.
July 17, 2024 | 7:58 pm
News sentiment analysis
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NEGATIVE IMPACT
The Nightview Fund, which holds BlackRock stock, slipped 3.1% following the news of the bond sale.
The ETF's decline indicates some investor concerns or profit-taking following the bond sale news.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Fidelity Disruptive Finance ETF, which holds BlackRock stock, lost 0.35% following the news of the bond sale.
The ETF's slight decline reflects market reactions to BlackRock's bond sale, but the impact is minimal.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Bank of America is one of the lead banks in BlackRock's $2.5 billion bond sale to fund the Preqin acquisition.
As a lead bank in the bond sale, Bank of America stands to benefit from fees and increased business, potentially boosting its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
BlackRock is selling $2.5 billion in bonds to fund its $3.2 billion acquisition of Preqin, aiming to expand its presence in private-markets investing.
The bond sale and acquisition are significant moves for BlackRock, indicating a strategic expansion into the growing private-markets sector. This could positively impact BLK's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Madison Dividend Value ETF, which holds BlackRock stock, edged up 0.92% following the news of the bond sale.
The ETF's gain reflects positive market sentiment towards BlackRock's strategic moves, benefiting its stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Copper Place Global Dividend Growth ETF, which holds BlackRock stock, rose 0.52% following the news of the bond sale.
The ETF's gain reflects positive market sentiment towards BlackRock's strategic moves, benefiting its stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
JPMorgan Chase is one of the lead banks in BlackRock's $2.5 billion bond sale to fund the Preqin acquisition.
As a lead bank in the bond sale, JPMorgan Chase stands to benefit from fees and increased business, potentially boosting its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Morgan Stanley is one of the lead banks in BlackRock's $2.5 billion bond sale to fund the Preqin acquisition.
As a lead bank in the bond sale, Morgan Stanley stands to benefit from fees and increased business, potentially boosting its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Schwab U.S. Dividend Equity ETF, which holds BlackRock stock, gained 1.32% following the news of the bond sale.
The ETF's gain reflects positive market sentiment towards BlackRock's strategic moves, benefiting its stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Wells Fargo is one of the lead banks in BlackRock's $2.5 billion bond sale to fund the Preqin acquisition.
As a lead bank in the bond sale, Wells Fargo stands to benefit from fees and increased business, potentially boosting its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50