The offering includes a diverse series of unsecured senior notes maturing between 2029 and 2036. The sterling-denominated tranche consists of £550 million in 6.052% notes due in 2031. The dollar-denominated portion is split into three tiers: $750 million in 5.572% notes maturing in 2029, $750 million in 5.738% notes due in 2031, and $500 million in 6.063% notes set for 2036.
Nuveen Prices $2 Billion and £550 Million Debt Offerings
Nuveen has finalized the pricing for a multi-currency debt issuance, securing £550 million and $2 billion in senior notes. The firm intends to channel the net proceeds into general corporate operations, specifically earmarking the capital to finance a portion of its pending acquisition of Schroders plc.
These financial instruments are restricted to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The company clarified that the closing of the sterling and dollar offerings are independent of one another. As a TIAA company, Nuveen currently manages $1.4 trillion in assets, and these notes represent the latest move to solidify its capital structure ahead of the Schroders integration.
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