Microsoft historically has been a leader in including MWVBEs in their bond transaction however; this is the first time there is a significant increase in the number and scope of firms participating in the debt offering. Firms included Blaylock Beal Van, CastleOak Securities, C. L. King & Associates, Drexel Hamilton, Lebenthal & Co., Loop Capital Markets, Ramirez & Co., Siebert Brandford Shank the Williams Capital Group, and others.
In including a record number of diverse firms in this trade, Microsoft said they brought in unique clients to the order book and received fees of 3.5% of the total deal economics.
Reverend Jackson stated, “Microsoft today has shown it is a beacon of the technology industry by actively increasing the number of minority financial services firms in their debt offering. I applaud Microsoft for consistently taking bold steps such as this one, in the direction of diversity and inclusion. Hopefully, other technology firms will soon follow Microsoft’s lead. We are all winners when we work closely together to cross the finish line of equity and parity.
“The lesson learned for all is the importance of having meaningful dialogue with senior executives and their respective board members throughout the years. The results of the continuous dialogue opened the door for the MWVBEs firms.
“MWVBEs inclusion in the debt offering not only empowers minority firms, and adds value for Microsoft. They are experienced firms with proven track records. Given the opportunity, they perform at the top of the class. We are delighted that they are participating in Microsoft’s debt offering. They are changing the flow of the river.”