BlackRock said on November 7, 2024 it established a commercial paper program for issuing short-term, unsecured commercial paper notes, with the aggregate outstanding amount at any time not to exceed $5,000,000,000.

1. 01

   BlackRock said on November 7, 2024 it established a commercial paper program for issuing short-term, unsecured commercial paper notes, with the aggregate outstanding amount at any time not to exceed $5,000,000,000.

2. 02

   The company said the new program replaced the prior $4,000,000,000 commercial paper program of BlackRock Finance, Inc., and was put in place in connection with the company's organizational structure following the closing of its acquisition of Global Infrastructure Partners.

3. 03

   BlackRock said the notes will have maturities of up to 397 days from the date of issue, with payment unconditionally guaranteed by its subsidiary BlackRock Finance, Inc. The company said the revolving credit facility of the company and the guarantor is expected to serve as a liquidity backstop for issuances under the program.

4. 04

   The company said it expects net proceeds from note issuances to be used for general corporate purposes, and that no notes are currently outstanding under the program.

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