Moody's Issues $2.7 Billion in Senior Notes

Ticker: MCO · Form: 8-K · Filed: 2024-05-06T00:00:00.000Z

Sentiment: neutral

Topics: debt-issuance, financing, senior-notes

TL;DR

Moody's just dropped $2.7B in new debt.

AI Summary

On May 6, 2024, Moody's Corporation entered into a material definitive agreement related to the issuance of senior notes. Specifically, the company issued $1.75 billion in senior notes due 2027 and $950 million in senior notes due 2030.

Why It Matters

This filing indicates Moody's is raising significant capital through debt issuance, which could be for general corporate purposes, acquisitions, or refinancing existing debt.

Risk Assessment

Risk Level: medium — Issuing substantial debt can increase financial leverage and interest expenses, impacting profitability and financial flexibility.

Key Numbers

$2.7B — Total Senior Notes Issued (Combined value of notes due 2027 and 2030)
$1.75B — Senior Notes Due 2027 (Amount issued for notes maturing in 2027)
$0.95B — Senior Notes Due 2030 (Amount issued for notes maturing in 2030)

Key Players & Entities

Moody's Corporation (company) — Registrant
$1.75 billion (dollar_amount) — Senior Notes due 2027 issuance
$950 million (dollar_amount) — Senior Notes due 2030 issuance
May 6, 2024 (date) — Date of Report

FAQ

What is the purpose of the senior notes issuance?

The filing does not explicitly state the purpose of the senior notes issuance, but it is a material definitive agreement.

What are the interest rates for the new senior notes?

The filing does not disclose the specific interest rates for the $1.75 billion senior notes due 2027 or the $950 million senior notes due 2030.

When were the senior notes issued?

The senior notes were issued on May 6, 2024, as indicated by the filing date and the earliest event reported.

What is the total amount Moody's Corporation raised through this debt offering?

Moody's Corporation raised a total of $2.7 billion through the issuance of senior notes ($1.75 billion due 2027 and $950 million due 2030).

Does this filing relate to any acquisitions or divestitures?

This filing specifically details the entry into a material definitive agreement for the creation of a direct financial obligation through the issuance of senior notes; it does not mention acquisitions or divestitures.

From the Filing

0001193125-24-131945.txt : 20240506 0001193125-24-131945.hdr.sgml : 20240506 20240506161906 ACCESSION NUMBER: 0001193125-24-131945 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240506 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240506 DATE AS OF CHANGE: 20240506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOODYS CORP /DE/ CENTRAL INDEX KEY: 0001059556 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 133998945 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14037 FILM NUMBER: 24917788 BUSINESS ADDRESS: STREET 1: 7 WORLD TRADE CENTER STREET 2: AT 250 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10007 BUSINESS PHONE: 2125530300 MAIL ADDRESS: STREET 1: 7 WORLD TRADE CENTER STREET 2: AT 250 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10007 FORMER COMPANY: FORMER CONFORMED NAME: DUN & BRADSTREET CORP /DE/ DATE OF NAME CHANGE: 19980728 FORMER COMPANY: FORMER CONFORMED NAME: NEW DUN & BRADSTREET CORP DATE OF NAME CHANGE: 19980728 8-K 1 d824452d8k.htm 8-K 8-K MOODYS CORP /DE/ false 0001059556 0001059556 2024-05-06 2024-05-06 0001059556 us-gaap:CommonStockMember 2024-05-06 2024-05-06 0001059556 mco:M1.75SeniorNotesDue20272Member 2024-05-06 2024-05-06 0001059556 mco:M0.950SeniorNotesDue20301Member 2024-05-06 2024-05-06     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549     FORM 8-K     CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 6, 2024     MOODY’S CORPORATION (Exact Name of Registrant as Specified in its Charter)       Delaware   1-14037   13-3998945 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 7 World Trade Center at 250 Greenwich Street New York , New York 10007 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code: (212) 553-0300     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.01 per share   MCO   New York Stock Exchange 1.75% Senior Notes Due 2027   MCO 27   New York Stock Exchange 0.950% Senior Notes Due 2030   MCO 30   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 1.0