, sold $700 million of debt on Wednesday and plans to use the money on technology and product development, a company spokeswoman confirmed to The MFWire
The Boston Behemoth sold $300 million of notes with a 5.35 percent coupon maturing in 2021 and $400 million of notes with a 6.45 percent coupon maturing
"Our company has a history of internally financing its growth, and we've
accessed the debt market from time to time in the past," Fidelity spokeswoman Anne Crowley said in an e-mailed statement to The MFWire
. "Right now we're
experiencing growth in several aspects of our business and have forecast
for some spending needs, including in the areas of technology and the
development of new products and services."
"At this time, relatively low
rates for long-term, high-quality corporate bonds provide a distinct
opportunity for us to acquire capital to help support future growth at a
competitive cost compared to other means of obtaining capital," she added.
Armie Margaret Lee
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