Franklin Resources’ $750 Million Offering

October 14, 2020

Cleary Gottlieb represented BofA Securities Inc. and Citigroup Global Markets Inc., as representatives of the underwriters, in a $750 million registered offering by Franklin Resources Inc. (Franklin Resources) of its 1.6% notes due 2030.

The investment-grade senior notes offering launched and priced on October 14, 2020, and is expected to close on October 19, 2020. This is the first time in more than five years that Franklin Resources tapped the public capital markets.

Franklin Resources (NYSE: BEN) is a global investment management organization operating through its subsidiaries, including the various Franklin Templeton subsidiaries and Legg Mason, which was acquired in July 2020. With clients in over 165 countries, its mission is to help clients achieve better outcomes through investment management expertise, wealth management, and technology solutions. The California-based company has offices in over 30 countries and 1,300 investment professionals, and has more than 70 years of investment experience and approximately $1.4 trillion in assets under management as of September 30, 2020.