Northern Trust taps various firms to underwrite $1 billion in senior debt

CHICAGO–(BUSINESS WIRE)–Northern Trust Corporation (Nasdaq: NTRS) today announced the closing of its $1 billion senior debt public offering, which commenced May 5, 2022. As part of its longstanding commitment to diversity, equity and inclusion within the services sector, Northern Trust has included two minority-owned companies as lead bookrunners.

“This transaction illustrates how fundamental diversity and expansion of opportunity is to how Northern Trust engages with our communities and stakeholders,” said Chief Financial Officer Jason Tyler. “Northern Trust is delighted to have completed this transaction with such a strong group of partners while reflecting our values.”

The underwriting syndicate included minority-owned companies Loop Capital Markets and Siebert Williams Shank, as well as traditional co-bookrunners Barclays Capital Inc.; Goldman Sachs & Co. LLC; and Wells Fargo Securities, LLC. Loop Capital, based in Chicago, is a leading black-owned brokerage firm; Siebert Williams Shank is a leading investment bank owned by women and minorities.

“Loop Capital is honored to have a long-standing strategic partnership with Northern Trust that dates back to the earliest days of our firm’s existence,” said Jim Reynolds, President and CEO of Loop Capital Markets. “With the selection of our firm as active bookrunner, Northern Trust has taken another step in empowering Loop Capital, while supporting a major broader market shift on Wall Street for even deeper engagement in promoting diversity, equity and inclusion. at all levels of the financial services value chain.

“Siebert Williams Shank is proud to have acted as joint bookrunner on this historic transaction,” said Suzanne Shank, President and CEO of Siebert Williams Shank. “Our strategic partnership with Northern Trust dates back to 2005, with engagements ranging from capital raising to asset management, and has helped Siebert Williams Shank grow, reinvest in our communities and support our social mission. Northern Trust continues to prioritize diversity, equity and inclusion and has provided a stage for companies such as Siebert Williams Shank to showcase our capabilities and serve our clients and investors in greater capacity; we believe such opportunities will benefit the entire investment industry.

“Wells Fargo Securities was honored to have been selected by Northern Trust as bookrunner and billing and delivery agent for this transaction,” said John Hines, head of high quality debt capital markets at Wells. Fargo’s Corporate & Investment Bank. “Additionally, we enjoy working with our reseller peers, especially minority-owned companies Loop Capital and Siebert Williams Shank. Wells Fargo & Co. is dedicated to building a sustainable and inclusive financial ecosystem, and we certainly embrace and promote them in our debt capital markets business lines. We commend Northern Trust for its efforts in this regard.

Mayer Brown LLP acted as counsel to Northern Trust and McDermott Will & Emery LLP acted as counsel to the Subscribers.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, registered office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.