2023-05-22 16:27:42 ET
- BGC Partners ( NASDAQ: BGCP ) said Monday it priced its $350M offering of 8% senior notes, which will mature on May 25, 2028.
- The notes will pay interest semi-annually at a rate of 8% per annum, on May 25 and November 25, starting on November 25, 2023 till maturity.
- The offering is expected to close on May 25.
- Net proceeds, along with cash on hand and proceeds of other indebtedness, will be used to repurchase, redeem and/or repay $450M outstanding of 5.375% senior notes due July 2023, including to pay any applicable redemption premium.
- Earlier, BGC ( BGCP ) reported Q1 earnings and initiated Q2 outlook.
For further details see:
BGC Partners prices $350M senior note offering