S&P Global Announces Pricing of $2,000,000,000 Private Offering of Senior Notes by Mobility Global Inc. Ahead of Planned Separation

Rhea-AI Summary

S&P Global (NYSE:SPGI)/b) announced pricing of a $2,000,000,000 private senior notes offering by Mobility Global ahead of its planned spin-off. The deal includes $650M 5.050% notes due 2029, $650M 5.450% notes due 2031, and $700M 6.050% notes due 2036, plus a $500M revolving credit facility.Proceeds will fund a cash payment to S&P Global for transferred assets and general corporate purposes, with funds held in escrow until separation conditions are met.

AI-generated analysis. Not financial advice.

Positive

• Mobility Global to raise $2.0 billion via senior notes ahead of spin-off
• $650M 5.050% notes due 2029, $650M 5.450% notes due 2031, $700M 6.050% due 2036
• $500 million senior unsecured revolving credit facility obtained for Mobility Global
• Net proceeds to fund cash payment to S&P Global for transferred assets
• Escrow structure protects noteholders until separation-related conditions are satisfied
• Registration rights agreement provides path to exchange notes for registered securities

Negative

• None.

News Market Reaction – SPGI

+1.10%

1 alert

+1.10% News Effect

On the day this news was published, SPGI gained 1.10%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Total notes offering: $2,000,000,000 2029 Notes: $650,000,000 at 5.050% 2031 Notes: $650,000,000 at 5.450% +5 more

8 metrics

Total notes offering $2,000,000,000 Aggregate principal amount of Mobility Global senior notes

2029 Notes $650,000,000 at 5.050% Senior notes due 2029

2031 Notes $650,000,000 at 5.450% Senior notes due 2031

2036 Notes $700,000,000 at 6.050% Senior notes due 2036

Revolving credit facility $500 million Senior unsecured revolver entered by Mobility Global

Current share price $410.40 Price before the pricing announcement

52-week range $381.605–$579.05 Low–high range before the news

Market capitalization $123,553,360,000 Equity value prior to the announcement

Market Reality Check

Price: $424.82 Vol: Volume 2,384,786 vs 20-da...

normal vol

$424.82 Last Close

Volume Volume 2,384,786 vs 20-day average 1,812,269 ahead of the Mobility debt pricing. normal

Technical Shares at $410.40, trading below 200-day MA of $483.17 and 29.13% under the 52-week high.

Peers on Argus

SPGI slipped 0.15% with elevated volume, while key peers like MCO, ICE, CME, MSC...

SPGI slipped 0.15% with elevated volume, while key peers like MCO, ICE, CME, MSCI and NDAQ also traded lower between -0.82% and -2.45%, indicating broad sector softness rather than SPGI-specific pressure.

Common Catalyst Peer news spans general corporate updates and product launches, without a unifying theme tied to SPGI’s Mobility financing or spin-off.

Previous Private placement,offering Reports

1 past event · Latest: May 18 (Neutral)

Same Type Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
May 18	Debt offering announcement	Neutral	+3.5%	Announced $2.0B Mobility Global senior notes and $500M revolver ahead of spin-off.

Pattern Detected

Tag-specific history is limited, but the prior Mobility notes announcement on May 18, 2026 saw a positive 3.54% move, suggesting investors initially welcomed the financing tied to the separation.

Recent Company History

Recent news around S&P Global has centered on the planned separation of its Mobility division. On May 18, 2026, the company announced a $2.0 billion senior notes offering by Mobility Global and a $500 million revolver, which coincided with a 3.54% share gain. Today’s release moves that transaction from commencement to final pricing, reinforcing the same capital structure theme rather than introducing a new strategic direction.

Historical Comparison

+3.5% avg move · Prior same-tag Mobility financing news on May 18, 2026 produced a 3.54% move, giving only a single d...

private placement,offering

+3.5%

Average Historical Move private placement,offering

Prior same-tag Mobility financing news on May 18, 2026 produced a 3.54% move, giving only a single data point to benchmark reactions to today’s pricing update.

Same-tag history shows progression from announcing the $2.0B Mobility Global notes and $500M revolver to final pricing of the 2029, 2031 and 2036 tranches under the planned spin-off.

Market Pulse Summary

This announcement finalizes pricing for $2,000,000,000 of Mobility Global senior notes across 2029, ...

Analysis

This announcement finalizes pricing for $2,000,000,000 of Mobility Global senior notes across 2029, 2031 and 2036 maturities and confirms a related $500 million revolver. Proceeds are earmarked to fund a cash payment to S&P Global tied to the Mobility separation, plus fees and general purposes. Investors may track subsequent spin-off milestones, capital structure disclosures for Mobility Global, and any further updates in SEC filings to gauge ongoing balance sheet and execution risk.

Key Terms

senior notes, revolving credit facility, Rule 144A, Regulation S, +3 more

7 terms

senior notes financial

"announced the pricing of a private offering of $650,000,000 aggregate principal amount of 5.050% senior notes due 2029"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

revolving credit facility financial

"The Issuer has also entered into a $500 million senior unsecured revolving credit facility."

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

Rule 144A regulatory

"offered for sale to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

Regulation S regulatory

"and to persons outside the United States in compliance with Regulation S under the Securities Act."

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

registration rights agreement regulatory

"entitled to the benefits of a registration rights agreement pursuant to which the Issuer will agree to use commercially reasonable efforts"

A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.

shelf registration statement regulatory

"under certain circumstances, to file a shelf registration statement with respect to the resale of the Notes."

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

escrow financial

"Net proceeds of the offering will be deposited into escrow for the benefit of the holders of the Notes"

A neutral third party holds money, documents, or assets until both sides in a transaction meet agreed conditions, like a safety deposit box that only opens when everyone fulfills the rules. For investors, escrow reduces risk and increases certainty by ensuring payments or shares are released only when contractual steps are completed, which affects deal timing, legal protection, and the likelihood that a transaction will close as planned.

AI-generated analysis. Not financial advice.

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NEW YORK, May 19, 2026 /PRNewswire/ -- S&P Global Inc. ("S&P Global") (NYSE:SPGI), today announced the pricing of a private offering of $650,000,000 aggregate principal amount of 5.050% senior notes due 2029 (the "2029 Notes"), $650,000,000 aggregate principal amount of 5.450% senior notes due 2031 (the "2031 Notes") and $700,000,000 aggregate principal amount of 6.050% senior notes due 2036 (the "2036 Notes" and, together with the 2029 Notes and the 2031 Notes, the "Notes") by Mobility Global Inc. ("Mobility Global" or the "Issuer"). The Issuer is a recently formed holding company for S&P Global's Mobility division, which S&P Global intends to separate from its current business by means of a spin-off to its shareholders. The offering is expected to close on May 29, 2026, subject to customary closing conditions. The Issuer has also entered into a $500 million senior unsecured revolving credit facility.

Upon completion of the separation, the Issuer intends to use the net proceeds of the offering, after deducting discounts and commissions to the initial purchasers, to finance a cash payment to S&P Global as consideration for the transfer of certain assets, liabilities and entities to the Issuer, and the Issuer will use any remaining proceeds to fund estimated fees and expenses and for general corporate purposes. Net proceeds of the offering will be deposited into escrow for the benefit of the holders of the Notes pending satisfaction of certain conditions related to the completion of the separation.

The Notes have been offered for sale to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States in compliance with Regulation S under the Securities Act.

The Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

The Notes will be entitled to the benefits of a registration rights agreement pursuant to which the Issuer will agree to use commercially reasonable efforts to file a registration statement to exchange the Notes for new notes registered under the Securities Act, or under certain circumstances, to file a shelf registration statement with respect to the resale of the Notes.

About Mobility Global

Mobility Global is the world's standard for mobility intelligence, providing critical data and analytics across the full vehicle lifecycle. Its portfolio of trusted brands and products includes CARFAX, automotiveMastermind, Polk Automotive Solutions, and Market Scan, supporting the world's major automakers, suppliers, dealer groups, media, financial institutions, and consumers with data, forecast, insights, technology, and innovation.

About S&P Global

S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape.

From helping our customers assess new investments across the capital and commodities markets to navigating the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world's leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today.

Forward-Looking Statements

This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the business strategies and methods of generating revenue of S&P Global Inc. (the "Company"); the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; the Company's effective tax rates; the Company's cost structure, dividend policy, cash flows or liquidity; and the anticipated separation of S&P Global Mobility ("Mobility") into a standalone public company.

Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:

• worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, restrictions on trade (e.g., tariffs), instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility (e.g., supply chain risk), geopolitical uncertainty (including military conflict), natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), and conditions that result from legislative, regulatory, trade and policy changes, including from the U.S. administration;
• the volatility and health of debt, equity, commodities, energy and automotive markets, including credit quality and spreads, the composition and mix of credit maturity profiles, the level of liquidity and future debt issuances, equity flows from active to passive, fluctuations in average asset prices in global equities, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives;

• the demand and market for credit ratings in and across the sectors and geographies where the Company operates;

• the Company's ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, or protect against a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data;

• the outcome of litigation, government and regulatory proceedings, investigations and inquiries;

• concerns in the marketplace affecting the Company's credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services;

• the level of merger and acquisition activity in the United States and abroad;

• the level of the Company's future cash flows and capital investments;

• the effect of competitive products (including those incorporating artificial intelligence ("AI")) and pricing, including the level of success of new product developments and global expansion;

• the impact of customer cost-cutting pressures;

• a decline in the demand for our products and services by our customers and other market participants;

• our ability to develop new products or technologies, to integrate our products with new technologies (e.g., AI), or to compete with new products or technologies offered by new or existing competitors;
• the introduction of competing products (including those developed by AI) or technologies by other companies;

• our ability to protect our intellectual property from unauthorized use and infringement, including by others using AI technologies, and to operate our business without violating third-party intellectual property rights, including through our own use of AI in our products and services;

• our ability to attract, incentivize and retain key employees, especially in a competitive business environment;

• our ability to successfully navigate key organizational changes;

• the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith;
• the Company's exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions;

• the Company's ability to make acquisitions and dispositions and successfully integrate the businesses we acquire;

• consolidation of the Company's customers, suppliers or competitors;

• the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure;

• the Company's ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event;

• the impact on the Company's revenue and net income caused by fluctuations in foreign currency exchange rates;

• the impact of changes in applicable tax or accounting requirements on the Company;

• the separation of Mobility not being consummated within the anticipated time period or at all;

• the ability of the separation of Mobility to qualify for tax-free treatment for U.S. federal income tax purposes;

• any disruption to the Company's business in connection with the proposed separation of Mobility;

• any loss of synergies from separating the businesses of Mobility and the Company that adversely impact the results of operations of both businesses, or the companies resulting from the separation of Mobility not realizing all of the expected benefits of the separation; and

• following the separation of Mobility, the combined value of the common stock of the two publicly-traded companies not being equal to or greater than the value of the Company's common stock had the separation not occurred.

The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K.

Contacts:

S&P Global Investor Relations:
Mark Grant
Senior Vice President, Investor Relations and Treasurer
Tel: +1 (347) 640-1521
mark.grant@spglobal.com

Media:
Christina Twomey
Chief Communications Officer, S&P Global
Tel: +1 (646) 407-3001
christina.twomey@spglobal.com

Mobility Global Investor Relations:
Tejal Engman
Managing Director, Investor Relations
ir@mobilityglobal.com

Media:
mobilitycomms@spglobal.com

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SOURCE S&P Global

FAQ

What did S&P Global (NYSE:SPGI) announce about Mobility Global's $2 billion senior notes on May 19, 2026?

S&P Global announced that Mobility Global priced a $2 billion private offering of senior notes. According to S&P Global, the deal comprises three tranches due 2029, 2031, and 2036, and is expected to close on May 29, 2026, subject to customary conditions.

What are the coupon rates and maturities of Mobility Global's new senior notes before the S&P Global (SPGI) spin-off?

The offering includes three fixed-rate senior note tranches with staggered maturities. According to S&P Global, Mobility Global will issue $650M of 5.050% notes due 2029, $650M of 5.450% notes due 2031, and $700M of 6.050% notes due 2036.

How will Mobility Global use proceeds from the $2 billion senior notes offering related to S&P Global (SPGI)?

Proceeds are intended to finance a cash payment to S&P Global and other corporate needs. According to S&P Global, funds will compensate for transferred assets, liabilities and entities, with remaining proceeds used for fees, expenses, and general corporate purposes.

Who can buy Mobility Global's senior notes issued under Rule 144A and Regulation S?

The notes are offered privately to specific investor groups rather than the general public. According to S&P Global, buyers include qualified institutional buyers under Rule 144A and certain investors outside the United States under Regulation S of the Securities Act.

What is the $500 million revolving credit facility for Mobility Global in connection with S&P Global (SPGI)?

Mobility Global has entered into a $500 million senior unsecured revolving credit facility. According to S&P Global, this facility will provide additional liquidity to the newly formed holding company as it separates from S&P Global’s Mobility division through a planned spin-off.

How are Mobility Global's new senior notes protected before the S&P Global (SPGI) separation closes?

Net proceeds will be held in escrow for the benefit of noteholders until certain conditions are met. According to S&P Global, an escrow arrangement applies pending completion of the separation, adding structural protection during the transition period before spin-off completion.

Will Mobility Global's senior notes eventually be registered under the Securities Act after issuance?

The notes currently are unregistered but have registration rights attached. According to S&P Global, Mobility Global agrees to use commercially reasonable efforts to file a registration statement for an exchange offer or, under certain circumstances, a shelf registration for resale.