Broadridge Closes $750 Million Senior Notes Offering

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U.S.-based fintech Broadridge Financial Solutions announced on Monday it has closed its offering of $750 million aggregate principal amount of 2.900% senior notes due 2029. According to Broadridge, 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. acted as the joint book-running managers for the offering.

Broadridge reported that the Notes were offered pursuant to an effective registration statement only by means of a prospectus and related prospectus supplement. Broadridge added that it intends to use the net proceeds of this offering to repay the outstanding indebtedness under its revolving credit facility and for general corporate purposes.

The Notes offering comes just weeks after Broadridge announced it has acquired ClearStructure Financial Technology, which is a global provider of portfolio management solutions for the private debt markets. Broadridge at the time revealed the acquisition is helping to expand its asset management technology suite.

Broadridge’s SaaS technology powers more than 550 hedge funds, traditional asset managers and fund administrators with a complete front-to-back, multi-asset class solution that simplifies and improves firm trading and operations. As private markets continue to grow and present opportunities for asset managers to find alpha and differentiate themselves, the addition of ClearStructure’s private debt capabilities will create a differentiated solution in the market and enable Broadridge to serve new clients.”

Eric Bernstein, Broadridge’s Head of Asset Management Solutions, also shared:

“ClearStructure’s component services enhance our existing multi-asset class, front-to-back office solution, providing our clients with a unique capability to access the public and private markets. This acquisition aligns to Broadridge’s strategy of providing a true cross-asset platform to enable asset management clients to have a single view into their entire book of business.”

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