8-KItem 1.01 · Material AgreementItem 2.03 · Financial ObligationItem 9.01 · Financial Statements
Invesco borrows $1.5 billion to repurchase preferred shares from MassMutual
Filed with the SEC on · Summarized by InvestorsBot
Invesco completed a $1.5 billion repurchase of its 5.9% Series A preferred shares held by MassMutual, funded with a new unsecured five-year term loan borrowed in full at closing. Invesco paid MassMutual a 12.5% premium to the shares’ $1,000 liquidation preference; MassMutual will retain $1 billion of preferred stock and owns about 18.5% of Invesco’s common shares, while the loan matures October 26, 2031 and carries quarterly amortization beginning in the third year.