Bill Ackman’s Pershing Square Holdings Ltd has returned to the US investment-grade market for the first time since 2021, raising $500 million through a new seven-year dollar bond issued on Thursday, Bloomberg reported.
The notes were priced at 1.75 percentage points above Treasuries, about 25 basis points tighter than initial guidance, according to a source familiar with the matter. Proceeds will go toward general corporate purposes.
This marks Pershing Square’s first US dollar bond in four years, following a $700 million 10-year issue in 2021. Earlier in 2025, the firm also raised €650 million ($754 million) in the European market.
Rated A- by S&P Global Ratings and expected to receive a BBB from Fitch Ratings, the new bond was issued without registration rights. Citigroup acted as sole global coordinator,…
