BGC calls for redemption of its 5.375% senior notes eue 2019.
BANKING AND CREDIT NEWS-November 14, 2018-BGC calls for redemption of its 5.375% senior notes eue 2019
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Brokerage and financial technology company BGC Partners, Inc. (NASDAQ: BGCP) has announced it has called all USD 300 million aggregate principal amount of its outstanding 5.375% Senior Notes due 2019 for redemption, the company said.
The redemption of the Notes will occur on December 5, 2018.
The redemption price will be equal to the sum of the remaining scheduled payments of principal and interest as of the Redemption Date, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate (as defined in the indenture governing the Notes) plus 50 basis points. The redemption price will be calculated on the third business day prior to the Redemption Date.
BGC Partners, Inc. offers Real Estate Services through its publicly traded subsidiary Newmark Group, Inc. BGC owns GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets. BGC's Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Nov 14, 2018|
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