Moody's launches cash tender offer for $500M 2.625% notes due 2023

MOODYS CORP /DE/

Tender offer for any and all $500M of 2.625% senior notes due 2023; expires Aug 8, 2022.
Consideration based on fixed spread of +15 bps over 1.5% US Treasury due Jan 15, 2023.
Offer conditioned on completion of a new senior note offering generating sufficient proceeds.
Citigroup acts as sole dealer manager; Global Bondholder Services Corp. as info agent.
Moody's expects to redeem any remaining 2023 notes after tender if conditions met.

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