S&P Global announced that Mobility Global Inc., the holding company for its Mobility division, has commenced a private offering of $2 billion in senior notes. This financing is a key step in preparation for the planned spin-off of the Mobility business into a standalone public company.
Key Details
- Offering Details: A $2,000,000,000 private offering of senior notes with maturities in 2029, 2031, and 2036.
- Issuer & Context: The notes are issued by Mobility Global Inc., the new entity for S&P Global's Mobility division, which is being separated via a spin-off. Mobility Global has also secured a $500 million revolving credit facility.
- Use of Proceeds: Net proceeds will be used to make a cash payment to S&P Global as consideration for the transfer of the Mobility business assets to the new entity.