05:56 PM EST, 03/05/2024 (MT Newswires) -- BlackRock ( BLK ) said late Tuesday it has priced a $3 billion offering of three tranches of senior unsecured notes to be issued by its BlackRock Funding unit.

The offering comprises of $500 million of 4.7% notes due 2029, $1 billion of 5% notes due 2034, and $1.5 billion of 5.25% notes due 2054.

The company said it expects the offering to close March 14 and plans to use the net proceeds to help fund its proposed acquisition of the business and assets of Global Infrastructure Management.

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