BlackRock, Inc. (NYSE:BLK) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry Into a Material Definitive Agreement.
On March21, 2017, BlackRock, Inc. (BlackRock) entered into an
underwriting agreement (the Underwriting Agreement) with J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner Smith
Incorporated and Morgan Stanley Co. LLC, as representatives of
the several underwriters named therein (the Underwriters), to
which BlackRock agreed to sell to the Underwriters $700million
aggregate principal amount of its 3.200% Notes due 2027 (the
Notes), for resale by the Underwriters (the Offering) to
BlackRocks registration statement on Form S-3 (File
No.333-213143). The Offering is expected to result in net
proceeds to BlackRock of approximately $694million. BlackRock
intends to use the net proceeds from the Offering towards the
redemption of its outstanding 6.25% Notes due 2017 and any
remaining proceeds for general corporate purposes.
The Underwriters and their affiliates have provided, and may in
the future provide, investment banking, commercial lending,
financial advisory and other services for BlackRock. The
Underwriters have received customary fees and expenses for these
services. In particular, certain of the affiliates of the
Underwriters are dealers under BlackRocks commercial paper
program. Certain of the affiliates of the Underwriters are also
lenders under BlackRocks $4.0billion revolving credit facility
maturing in 2021.
The foregoing summary of the Underwriting Agreement is qualified
by reference to the full text of the Underwriting Agreement,
which is filed as Exhibit 1.1 hereto and incorporated herein by
reference.
Item9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
|
Exhibit Number |
Description |
|
| 1.1 |
Underwriting Agreement, dated March21, 2017, among BlackRock, Inc. and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner Smith Incorporated and Morgan Stanley Co. LLC, as representatives of the several underwriters named therein. |
About BlackRock, Inc. (NYSE:BLK)
BlackRock, Inc. is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds (ETFs), separate accounts, collective investment funds and other pooled investment vehicles. The Company offers its BlackRock Solutions (BRS) investment and risk management technology platform, Aladdin; risk analytics, and advisory services and solutions to institutional investors. BRS also offers risk reporting capabilities via the Green Package and risk management advisory services; interactive fixed income analytics through its Web-based calculator, AnSer; outsourcing services, and investment accounting. BlackRock, Inc. (NYSE:BLK) Recent Trading Information
BlackRock, Inc. (NYSE:BLK) closed its last trading session up +0.19 at 375.47 with 342,329 shares trading hands.