BlackRock Sells 3-, 10-Year Bonds at Record Low Coupons
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BlackRock Inc., the world’s biggest asset manager, issued $1.5 billion of bonds at its lowest coupons on record to help fund a $1 billion share repurchase from minority owner Barclays Plc.
The firm headed by Laurence Fink sold $750 million each of 1.375 percent, three-year notes to yield 100 basis points more than similar-maturity Treasuries and 3.375 percent, 10-year debt at 165 basis points, according to data compiled by Bloomberg. The coupons are the least for three- and 10-year debt issued by the company, Bloomberg data show.