Broadridge Financial Solutions Inc. closed its offering of $750 million of its 2.900% senior notes due Dec. 1, 2029.
Interest payments on the notes will be made June 1 and Dec. 1 of each year, with the first payment due June 1, 2020. The company can redeem some or all of the notes before they mature at a redemption price equal to 100% of the principal redeemed plus accrued and unpaid interest, if any, to but not including the applicable redemption date, plus a "make-whole" premium. The "make-whole" premium will not be included if the notes are redeemed on or after Sept. 1, 2029.
Broadridge Financial Solutions intends to use net proceeds from the offering to repay outstanding debt under its revolving credit facility and for general corporate purposes.
J.P. Morgan Securities LLC, BofA Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. were joint book-running managers for the offering.