Welcome to our dedicated page for S&P Global news (Ticker: SPGI), a resource for investors and traders seeking the latest updates and insights on S&P Global stock.
S&P Global Inc. reports company news across data, benchmarks and analytics for capital, commodity and automotive markets. Coverage includes its credit ratings and market intelligence businesses, S&P Global Energy and Platts price assessments, and S&P Global Mobility products such as CARFAX vehicle history reports, listings, car care tools and recall data.
Recurring updates also include investor conference appearances, product and data launches, board and governance changes, and corporate-status developments involving the Mobility division.
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S&P Global (NYSE: SPGI) announced a notice of full redemption for its outstanding Senior Notes, including 5.000% notes due 2022 and 4.750% and 4.000% notes due 2025, effective April 20, 2022. The total principal amounts outstanding as of March 21, 2022, are $52,054,000 for the 2022 notes, $246,981,000 for the 4.750% 2025 notes, and $286,674,000 for the 4.000% 2025 notes. The redemption price will include the principal amount plus a make-whole premium and accrued interest. This announcement does not constitute an offer to buy or sell any notes.
On March 18, 2022, S&P Global (NYSE: SPGI) priced its cash tender offer for approximately $1.6 billion of its outstanding Senior Notes, including 5.000% due 2022, 4.000% due 2025, and 4.750% due 2025. The offer includes a Total Consideration determined based on pricing as of the same day, with early tender premiums applicable for validly tendered notes by March 17, 2022. The company expects to settle early on March 21, 2022. Completion relies on successful new senior note offerings and is subject to specific conditions.
S&P Global (NYSE: SPGI) announced that it received approximately $1.6 billion in valid tenders for its cash offer, which includes Senior Notes due 2022 and 2025. The offer was made for three series of notes totaling $2.23 billion as of the early tender deadline on March 17, 2022. The expected early settlement date is March 21, 2022, and the final settlement is projected for April 4, 2022. The tender offer's completion is contingent on the successful offering of new senior notes, detailed in the Offer to Purchase.
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S&P Global Mobility has revised its global light vehicle production forecast for 2022 and 2023, cutting it by 2.6 million units to 81.6 million and 88.5 million, respectively. The downgrade is attributed to the ongoing conflict in Ukraine and sanctions on Russia, impacting energy prices and supply chains. The North American outlook was also reduced by 480,000 units for 2022 and 549,000 units for 2023. The semiconductor supply chain remains strained due to Ukrainian neon and Russian palladium disruptions. Overall, nearly 25 million units are now removed from forecasts through 2030.
First Mortgage Default Rate Reaches Highest Level Since March 2021
On March 15, 2022, S&P Dow Jones Indices and Experian reported an increase in the S&P/Experian Consumer Credit Default Indices. The composite rate rose by 3 basis points to 0.46%, marking the third consecutive month of increases. The first mortgage default rate climbed to 0.34%, up 3 basis points. Moreover, the bank card default rate increased to 2.15%, while auto loan defaults slightly decreased to 0.52%. Notably, New York saw the biggest jump in defaults, reaching 0.64%.
S&P Dow Jones Indices reported that S&P 500 share buybacks hit a record $270.1 billion in Q4 2021, a 15.1% increase from Q3 2021. For the entire year, buybacks totaled $881.7 billion, up 69.6% from 2020. Despite a decline in the number of companies participating in buybacks, the trend remains strong with expectations of continued buybacks in Q1 2022 due to decreased share prices, potentially boosting earnings-per-share (EPS). The total shareholder return, combining buybacks and dividends, reached a record $404 billion in Q4 2021.