debt
confidence high
sentiment neutral
materiality 0.50
StepStone Group LP issues $175M 5.52% senior notes due 2029 for general corporate purposes
StepStone Group Inc.
- StepStone Group LP issued $175M aggregate principal of 5.52% Series A senior notes due October 22, 2029.
- Interest payable semi-annually; notes mature in five years.
- Net proceeds to be used for investments, debt repayment, and distributions.
- Covenants include max 3.5x net leverage and minimum $65.23B fee-paying AUM.
- Make-whole prepayment allowed; change of control triggers repurchase at 100%.