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S&P’s Mobility Unit to Sell $2B of Notes Ahead of Spinoff
Business Includes Carfax
S&P Global Inc. said May 18 that its Mobility Global unit will sell $2 billion of notes ahead of a planned spinoff of the business.
To be offered are notes maturing in three, five and 10 years, according to a statement. It also said that Mobility Global has entered a $500 million senior unsecured revolving credit facility.
Goldman Sachs Group Inc., Morgan Stanley and Bank of America Corp. were asked to organize calls with debt investors on May 18, according to a person with knowledge of the transaction.
The notes are being sold to qualified U.S. investors through a rule 144a offering, and to international investors as a Reg S deal.
Mobility Global offers automotive data and analytics. Its operations include Carfax Inc., a centralized repository of repair histories for cars. S&P said last year that it was spinning off the company. The move is anticipated to be completed in mid-2026, according the S&P’s first-quarter report.
