S&P Global has announced that its newly formed holding company, Mobility Global Inc., has initiated a private placement of $2 billion in senior notes, comprising bonds maturing in 2029, 2031, and 2036. Concurrently, Mobility Global has secured a $500 million senior unsecured revolving credit facility. This move represents a significant step in the previously announced plan to spin off the Mobility business, establishing an independent capital structure for Mobility Global to operate as a standalone public company.

The net proceeds from this offering are intended, following the completion of the spin-off, to be used to pay a cash consideration to S&P Global in exchange for the assets, liabilities, and entities transferred to Mobility Global. Any remaining funds will be allocated to cover related expenses and for general corporate purposes. To safeguard creditor interests, the net proceeds from the bond offering will be held in escrow until the spin-off is finalized.

S&P Global plans to spin off its Mobility business unit into an independent publicly traded company, Mobility Global, by mid-2026. Upon completion, S&P Global will sharpen its focus on its core benchmark indices, ratings, and market data businesses, while Mobility Global will concentrate on automotive data and software products. The spin-off plan has recently achieved several milestones, including the public filing of a Form 10 registration statement in early May and the successful hosting of an investor day. This news contributed to a rise of approximately 3.6% in S&P Global's share price during trading on May 18.

Mobility Global, described as "the standard for global mobility intelligence," encompasses well-known brands such as CARFAX, automotiveMastermind, Polk Automotive Solutions, and Market Scan. It provides critical data and analytics services covering the entire vehicle lifecycle to key automotive manufacturers, suppliers, dealer groups, financial institutions, and consumers.