AMG Issues New Junior Subordinated Notes

TL;DR

AMG just dropped new debt for 2059, 2060, and 2061. Long-term financing secured.

AI Summary

On March 14, 2024, Affiliated Managers Group, Inc. entered into a material definitive agreement related to the issuance of new debt. Specifically, the company entered into an indenture for its 5.875% Junior Subordinated Notes due 2059, its 4.75% Junior Subordinated Notes due 2060, and its 4.2% Junior Subordinated Notes due 2061.

Why It Matters

This filing indicates Affiliated Managers Group, Inc. is raising capital through long-term debt, which could impact its financial leverage and future interest expenses.

Risk Assessment

Risk Level: medium — Issuing new debt increases financial leverage and interest obligations, which can be a medium-term risk if not managed effectively.

Key Numbers

• 5.875% — Interest Rate (Junior Subordinated Notes due 2059)
• 4.75% — Interest Rate (Junior Subordinated Notes due 2060)
• 4.2% — Interest Rate (Junior Subordinated Notes due 2061)

Key Players & Entities

• AFFILIATED MANAGERS GROUP, INC. (company) — Filer
• 5.875% Junior Subordinated Notes due 2059 (dollar_amount) — Debt issuance
• 4.75% Junior Subordinated Notes due 2060 (dollar_amount) — Debt issuance
• 4.2% Junior Subordinated Notes due 2061 (dollar_amount) — Debt issuance
• March 14, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock ($0.01 par value) AMG New York Stock Excha
• $450,000,000 — ny") completed the issuance and sale of $450,000,000 aggregate principal amount of the Compa
• $50,000,000 — 4 (the "Initial Securities"), including $50,000,000 aggregate principal amount of the Compa

Filing Documents

• d797758d8k.htm (8-K) — 38KB
• d797758dex11.htm (EX-1.1) — 174KB
• d797758dex42.htm (EX-4.2) — 76KB
• d797758dex51.htm (EX-5.1) — 28KB
• g797758dsp001.jpg (GRAPHIC) — 2KB
• 0001193125-24-072712.txt ( ) — 558KB
• amg-20240314.xsd (EX-101.SCH) — 5KB
• amg-20240314_def.xml (EX-101.DEF) — 14KB
• amg-20240314_lab.xml (EX-101.LAB) — 24KB
• amg-20240314_pre.xml (EX-101.PRE) — 15KB
• d797758d8k_htm.xml (XML) — 8KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated as of March 14, 2024, among Affiliated Managers Group, Inc. and BofA Securities, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, and Wells Fargo Securities, LLC, as representatives of the underwriters named therein. 4.1 Indenture for Junior Subordinated Notes, dated as of March 27, 2019, between Affiliated Managers Group, Inc., as issuer, and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to Affiliated Managers Group, Inc.'s Current Report on Form 8-K filed on March 27, 2019). 4.2 Fourth Supplemental Indenture, dated as of March 20, 2024, between Affiliated Managers Group, Inc., as issuer, and U.S. Bank Trust Company, National Association, as trustee. 4.3 Form of 6.750% Junior Subordinated Note due 2064 (included in Exhibit 4.2). 5.1 Opinion of Skadden, Arps, Slate, Meagher & Flom LLP. 23.1 Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AFFILIATED MANAGERS GROUP, INC. Date: March 20, 2024 By: /s/ Kavita Padiyar Name: Kavita Padiyar Title: Managing Director, Chief Corporate Counsel, and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR