Exhibit 99.1
BlackRock Successfully Prices $3 Billion Offering of Senior Notes
NEW YORK, March 5, 2024 BlackRock, Inc. (NYSE: BLK) (BlackRock) today successfully priced a $3 billion debt
offering consisting of three tranches of senior unsecured notes (collectively, the Notes):
$500 million aggregate principal amount of
4.70% Notes due 2029
$1 billion aggregate principal amount of 5.00% Notes due 2034
$1.5 billion aggregate principal amount of 5.25% Notes due 2054
The Notes will be issued by BlackRocks wholly owned subsidiary, BlackRock Funding, Inc. (BlackRock Funding), and will be fully and
unconditionally guaranteed on a senior unsecured basis by BlackRock. BlackRock intends to use the net proceeds of the offering to fund a portion of the cash consideration for BlackRocks proposed acquisition of the business and assets of Global
Infrastructure Management, LLC (GIP and the GIP Transaction). The Notes, other than the Notes due 2054, will be subject to a special mandatory redemption (at a price equal to 101% of the aggregate principal amount of such
series of Notes) under certain circumstances if the GIP Transaction is not consummated. In the event of a special mandatory redemption, the proceeds of the 2054 Notes will be used for general corporate purposes, which may include repayment of
outstanding indebtedness.
The closing of the offering is expected to occur on March 14, 2024, subject to satisfaction of customary closing
conditions.
Morgan Stanley & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint
book-running managers for the offering.
This offering is being made pursuant to an effective shelf registration statement and prospectus and a related
preliminary prospectus supplement filed by BlackRock Funding and BlackRock with the Securities and Exchange Commission (the SEC). Before investing, potential investors should read the prospectus and the related preliminary prospectus
supplement, the shelf registration statement and other documents that BlackRock has filed with the SEC for more complete information about BlackRock and this offering.
Copies of the prospectus supplement and related prospectus for this offering can be obtained from Morgan Stanley & Co. LLC toll-free at (866) 718-1649, from BofA Securities, Inc. toll-free at (800) 294-1322, from Citigroup Global Markets Inc. toll-free at (800) 831-9146 and
from J.P. Morgan Securities LLC toll-free at (866) 803-9204.
This press release does not constitute an offer to
sell or the solicitation of an offer to buy any securities, including the Notes. There shall not be any sale of the securities described herein in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or other jurisdiction.
About BlackRock
BlackRocks purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial
technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Special
Note Regarding Forward-Looking Statements
This press release, and other statements that BlackRock may make, may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRocks future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such
as trend, potential, opportunity, pipeline, believe, comfortable, expect, anticipate, current, intention, estimate,
position, assume, outlook, continue, remain, maintain, sustain, seek, achieve, and similar expressions, or future or conditional verbs such
as will, would, should, could, may and similar expressions.