Federated Hermes completes HFML exchange, plans $350M note issuance at 3.29%

FEDERATED HERMES, INC.

Completed exchange of HFML beneficial interests for 1,183,066 restricted FHI shares and 318,807 treasury shares, making HFML wholly-owned.
Value of HFML shares received: $47.5 million based on Dec 31, 2021 independent valuation.
Intends to issue $350M senior unsecured notes at 3.29% coupon, maturing March 17, 2032, with semi-annual payments.
Proceeds to fund share repurchases, potential acquisitions, pay down existing debt, and general corporate purposes.
Lead agents: Citigroup Global Markets Inc. and PNC Capital Markets LLC.

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