Moody’s Sells $500 Million of Debt With First Issue in Two Years

Moody’s Corp. (MCO), the world’s second- largest provider of credit ratings, sold $500 million in bonds for general corporate purposes, its first offering since 2010.

Moody’s issued the 4.5 percent, 10-year bonds to yield 280 basis points, or 2.8 percentage points, more than similar- maturity Treasuries, according to data compiled by Bloomberg. Standard & Poor’s, the biggest credit-ratings firm, ranked the debt BBB+, its third-lowest investment-grade level, according to a statement.

The company last tapped the debt market in August 2010 with a $500 million offering. The 5.5 percent securities due in September 2020 traded at 108.7 cents on the dollar yesterday for a yield of 4.2 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Bank of America Corp., Citigroup Inc., and JPMorgan Chase & Co. managed the sale, Bloomberg data show.

To contact the reporter on this story: Matt Robinson in New York at mrobinson55@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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