MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, July 1, 2010 Fidelity's Debt Sale Raises More Cash Than Planned Fidelity's parent firm is raising more cash. FMR, LLC sold some $400 million of new debt, according data compiled by Bloomberg and reported by the Boston Globe. The offering was initially set to raise $250 million, according to an SEC filing. An unnamed source told the paper that fund firm said that the cash will be used for "general corporate purposes as well as investing in infrastructure, debt repayment and maintaining liquidity. That source added that the funds could also be used to fund potential acquisitions or investment opportunities, said the unnamed source to the paper. FMR is paying a 6.50 yield, or a 262.5 basis point premium over Treasuries of like maturity, according to the Boston paper. The bonds carry a maturity of 30 years and are the first sold by FMR in eight months. Printed from: MFWire.com/story.asp?s=32679 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |