March 6, 2023
$2.5bn ASR
Size: $2.5 billion
Structure: Uncollared
Financial Advisor: Matthews South
Counterparties: Citi / Goldman Sachs
Structure: Uncollared
Financial Advisor: Matthews South
Counterparties: Citi / Goldman Sachs
$2.5 Billion Accelerated Share Repurchase
Overview
- Matthews South advised Verisk on a $2.5 billion ASR
- The ASR was funded with cash on-hand following the closing of the divestiture of Wood Mackenzie on February 1, 2023, and the closing of its offering of 5.75% senior notes due 2033 on March 7, 2023
- The ASR was executed with Citi and Goldman Sachs
Pricing, Structuring, & Execution Advice
- This was the second ASR on which we advised Verisk
- Matthews South assisted the company in structuring the transaction to optimize for the large size, efficient pricing, and capital return objectives
- We coordinated pricing and execution with the bank group and provided documentation and accounting analysis to support equity treatment of the ASR
- With this transaction, Matthews South has advised clients on ~$85 billion of repurchase transactions
