S&P Global Inc. - SPGI STOCK NEWS

S&P Global (NYSE: SPGI) has announced a public offering of two tranches of senior notes, subject to market conditions. Goldman Sachs, BofA Securities, J.P. Morgan, and Morgan Stanley will serve as joint book-running managers. The proceeds will primarily fund the purchase of outstanding senior notes due in 2026, 2037, and 2048, as well as related fees. The offering is not contingent on the tender offer's completion. This move is aimed at capital restructuring and efficient debt management.

S&P Global (NYSE: SPGI) announced a cash tender offer for its outstanding Senior Notes: 4.400% due 2026, 6.550% due 2037, and 4.500% due 2048. The tender offer seeks to purchase up to $900 million of the 2026 Notes, $297 million of the 2037 Notes, and $500 million of the 2048 Notes. The expiration time for the offer is set for 5:00 p.m. New York City time on August 14, 2020. Holders of the Notes are encouraged to review the Offer Documents for detailed terms, conditions, and tender procedures.

S&P Dow Jones Indices has completed its seventh annual review of adherence to the IOSCO Principles for Financial Benchmarks. Conducted by an independent firm, the review assesses governance, control frameworks, and operational integrity. CEO Dan Draper emphasized the importance of maintaining high standards of transparency and best practices to foster trust with clients. The results of the review are available on S&P DJI's governance website. S&P DJI, a division of S&P Global (NYSE: SPGI), is recognized as the world's leading index provider.

S&P Global Platts has launched new oil fundamental data APIs through its redesigned Platts Developer Portal, aimed at enhancing access to commodity analytics. This initiative is part of a multi-year strategy to integrate fundamental insights directly into clients' systems. CEO Silvina Aldeco-Martinez emphasized the need for quick data interpretation amid market disruptions. The initial offerings include the World Refinery Database and Platts Oil Inventory, expanding the API capabilities for users. This launch follows other digital enhancements, including the Platts Platform and mobile apps.

S&P Global (NYSE: SPGI) reported Q2 2020 revenue of $1,943 million, a 14% increase year-over-year, and net income rose 43% to $792 million. Diluted EPS increased 46% to $3.28, driven by strong growth in S&P Global Ratings and cost reductions due to COVID-19 management actions. The adjusted EPS guidance was revised upwards to $10.75 to $10.95. Operating profit margins improved significantly across divisions, resulting in an operating profit margin of 56.9%. Despite the pandemic, all divisions showed growth, highlighting resilience and adaptability in uncertain market conditions.

S&P Global Market Intelligence has integrated equity research from Credit Suisse into its platform, enhancing its Aftermarket Research offerings. Credit Suisse, with over 200 analysts covering 2,700 companies globally, joins leading banks like JP Morgan and UBS. This collaboration aims to provide clients with high-quality insights to navigate market dynamics.

JP O'Sullivan emphasizes the value this addition brings to clients, while Stan Lantsman highlights the growing demand for top-tier research. The Aftermarket Research collection has expanded significantly in 2020, adding over 30 contributors.

S&P Dow Jones Indices and Experian reported a decline in consumer credit defaults for June 2020. The composite rate decreased by 12 basis points to 0.66%, with notable drops in various categories: bank card default rates fell by 17 basis points to 4.23%, auto loan defaults dropped 16 basis points to 0.40%, and first mortgage defaults decreased by 11 basis points to 0.41%. Four of five major metropolitan areas saw lower default rates, led by Chicago (0.69%) and Dallas (0.66%). Overall, these trends indicate improving consumer credit health.

S&P Global Market Intelligence has launched S&P Global RiskGauge Reports, a new credit analytics tool providing detailed credit risk insights for over 50 million public and private companies. This offering focuses on small and medium enterprises (SMEs), crucial for economic recovery post-COVID-19. The reports include innovative datasets and improved scores, like the RiskGauge Score, and tools such as PaySense for assessing trade payment behavior. This initiative aims to bridge data gaps, supporting informed decision-making for clients globally.