AMG Issues $500M in Junior Subordinated Notes

TL;DR

AMG just dropped $500M in new debt notes across multiple maturities.

AI Summary

On November 15, 2024, Affiliated Managers Group, Inc. (AMG) entered into a material definitive agreement related to the issuance of new junior subordinated notes. The company is issuing $500 million in aggregate principal amount of 5.875% Junior Subordinated Notes due 2059, 4.75% Junior Subordinated Notes due 2060, 4.2% Junior Subordinated Notes due 2061, and 6.75% Junior Subordinated Notes due 2064.

Why It Matters

This filing indicates Affiliated Managers Group, Inc. is raising capital through debt issuance, which could impact its financial leverage and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing significant amounts of subordinated debt increases financial leverage and potential interest rate risk for the company.

Key Numbers

• $500M — Aggregate Principal Amount of Notes (Total debt raised through the issuance of multiple junior subordinated notes.)
• 5.875% — Interest Rate (Coupon rate for the Junior Subordinated Notes due 2059.)
• 4.75% — Interest Rate (Coupon rate for the Junior Subordinated Notes due 2060.)
• 4.2% — Interest Rate (Coupon rate for the Junior Subordinated Notes due 2061.)
• 6.75% — Interest Rate (Coupon rate for the Junior Subordinated Notes due 2064.)

Key Players & Entities

• AFFILIATED MANAGERS GROUP, INC. (company) — Filer
• 0001004434 (company) — Central Index Key
• 20241115 (date) — Report Date
• 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
• 6.75% Junior Subordinated Notes due 2064 (dollar_amount) — Debt issuance

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock ($0.01 par value) AMG New York Stock Excha
• $1.25 billion — ing Credit Agreement"), providing for a $1.25 billion senior unsecured multicurrency revolvin
• $500 million — the Revolving Credit Agreement by up to $500 million. Borrowings under the Revolving Credi

Filing Documents

• d893880d8k.htm (8-K) — 36KB
• d893880dex101.htm (EX-10.1) — 676KB
• 0001193125-24-259866.txt ( ) — 1047KB
• amg-20241115.xsd (EX-101.SCH) — 5KB
• amg-20241115_def.xml (EX-101.DEF) — 14KB
• amg-20241115_lab.xml (EX-101.LAB) — 24KB
• amg-20241115_pre.xml (EX-101.PRE) — 15KB
• d893880d8k_htm.xml (XML) — 9KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d)Exhibits. Exhibit No. Description 10.1 Third Amended and Restated Credit Agreement, dated as of November 15, 2024, by and among Affiliated Managers Group, Inc., Bank of America, N.A., as administrative agent, letter of credit issuer and swingline lender, and the other lending institutions from time to time party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

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: November 15, 2024 By: /s/ Kavita Padiyar Name: Kavita Padiyar Title: General Counsel and Corporate Secretary 4

View Full Filing

View this 8-K filing on SEC EDGAR