Mastercard’s $600 Million Sustainability Bond and $700 Million Senior Notes Offering

Davis Polk & Wardwell LLP represented Mastercard, while Latham & Watkins LLP represented the underwriters in the offering.

Mastercard priced a US$600 million Sustainability Bond due 2031 at a fixed rate of 1.90% and a US$700 million Senior Notes due 2051 at a fixed rate of 2.95%. The Sustainability Bond further supports the company’s work to build an inclusive and sustainable digital economy through commercially sustainable social impact. Mastercard’s global commitments include reaching net zero emissions by 2050 and bringing 1 billion people and 50 million small businesses into the digital economy by 2025. The proceeds from the 2051 Senior Notes will be used for general corporate purposes.

The underwriters included BofA Securities, Inc., Deutsche Bank Securities Inc., NatWest Markets Securities Inc., U.S. Bancorp Investments, Inc., Citigroup Global Markets Inc., Commerz Markets LLC, HSBC Securities (USA) Inc., Lloyds Securities Inc., PNC Capital Markets LLC, Santander Investment Securities Inc., SG Americas Securities, LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., ICBC Standard Bank Plc, Loop Capital Markets LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., AmeriVet Securities, Inc., Blaylock Van, LLC, Samuel A. Ramirez & Company, Inc., Siebert Williams Shank & Co., LLC, and Tigress Financial Partners LLC.

Mastercard is a global technology company in the payments industry. Its mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, its innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Stelios Saffos (Picture), Andrew Baker, and Jason Ewart, with associates Jonathan Guest and Egzon Sulejmani. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Sam Yang.

Involved fees earner: Andrew Baker – Latham & Watkins; Jason Ewart – Latham & Watkins; Jonathan Guest – Latham & Watkins; Elena Romanova – Latham & Watkins; Stelios Saffos – Latham & Watkins; Sam Yang – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: AmeriVet Securities; Bank of America Securities; Barclays Capital ; Blaylock Van, LLC; Citigroup Global Markets Ltd; Commerz Markets LLC; Deutsche Bank Securities; HSBC Securities; ICBC Standard Bank; Lloyds Securities; Loop Capital Markets; Mizuho Securities; MUFG Securities Americas Inc. ; NatWest Markets Securities; PNC Capital Markets LLC; Samuel A. Ramirez & Company, Inc.; Santander Investment Securities Inc.; SG Americas Securities LLC; Siebert Williams Shank & Co. LLC; Tigress Financial Partners; U.S. Bancorp Investments; Wells Fargo Securities;

Author: Martina Bellini