State Street Partners with Firms for Underwriting Senior Unsecured Debt Worth $2Bn

State Street Corporation, one of the world's leading providers of financial services to institutional investors, announced that it has issued an aggregate principal amount of $2 billion of senior unsecured debt. The offering, has been closed on May 18, 2023, with Samuel A. Ramirez & Company, Inc. acting as a joint book-running manager, and CAVU Securities, LLC, Independence Point Securities LLC, and Siebert Williams Shank & Co., LLC, each acting as co-managers, marking State Street’s eighth consecutive offering. 

All four broker-dealers are owned by diverse groups and, collectively, have underwritten 33% of the securities in the issuance. The underwriting syndicate also included BofA Securities, Inc., Deutsche Bank Securities Inc., and Goldman Sachs & Co. LLC each acting as joint book-running managers.

"We are pleased to once again engage with diverse partners on this debt issuance, furthering our firm-wide commitment to inclusion and diversity," said Kimberly DeTrask, Treasurer at State Street Corporation. "We remain focused on increasing our partnership with diverse counterparts while also increasing representation and opportunities across our industry and in our communities."

"We are excited to have been an active joint bookrunning manager on State Street’s $2 billion bond issue this week," said Sam Ramirez Jr., Senior Managing Director, Samuel A. Ramirez & Company, Inc. "Working on this transaction in the same capacity as our big bank counterparts enables us to demonstrate our capabilities to the market and further develop our fixed income franchise. We are grateful to State Street for its strong partnership and for giving us the chance to compete at the highest level. Opportunities such as these have been essential to our firm’s growth throughout our 52-year history."