Franklin Resources issues USD 750 million 5.5% unsecured notes due 2036 to refinance revolving credit borrowings
BEN•Notes offering and use of proceeds
Franklin Resources priced a USD 750 million underwritten public offering of 5.500% Unsecured Notes due 2036, closing on Aug. 10, 2026.
Net proceeds are earmarked to repay about USD 700 million of revolving borrowings under its Second Amended and Restated Credit Agreement.
Interest, maturity and redemption terms
The notes pay 5.500% interest semi-annually starting Feb. 10, 2027, with maturity on Aug. 10, 2036.
They are redeemable before May 10, 2036 at a make-whole price tied to the Treasury Rate plus 15 basis points, and at par thereafter.
