BlackRock Prices $2.5B Debt Offering Consisting Of Three Tranches Of Senior Unsecured Notes; Intends To Use Net Proceeds To Fund Portion Of Cash Consideration For Preqin Deal
Portfolio Pulse from Benzinga Newsdesk
BlackRock has priced a $2.5 billion debt offering consisting of three tranches of senior unsecured notes. The proceeds will be used to fund a portion of the cash consideration for its proposed acquisition of Preqin Holding Limited.
July 17, 2024 | 8:36 pm
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BlackRock has announced a $2.5 billion debt offering to fund part of its acquisition of Preqin Holding Limited. The offering includes three tranches of senior unsecured notes with varying maturities and interest rates.
The debt offering indicates BlackRock's commitment to the acquisition of Preqin, which could be seen as a strategic move to enhance its data and analytics capabilities. The market may view this positively, leading to a potential short-term increase in BLK's stock price.
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