StepStone Group LP, the operating subsidiary of StepStone Group Inc., issued $175,000,000 aggregate principal amount of its 5.52% Series A senior notes. These notes are due on October 22, 2029, providing the company with long-term financing.
Interest on the notes will be paid semi-annually in arrears, commencing on April 22, 2025. The proceeds from this issuance are designated for general corporate purposes, including making new investments, repaying existing debt, and facilitating distributions.
The note purchase agreement includes specific financial covenants, such as maintaining a Total Net Leverage Ratio not greater than 3.5 to 1.0 and Fee Paying Assets Under Management not less than $65,231,400,000 plus 65% of acquired FEAUM. These covenants provide a framework for the company's financial management and growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.