INTL FCStone gets $50 million syndicated loan from Bank of Montreal

By Marisa Wong

Madison, Wis., Aug. 15 - INTL FCStone Inc. and its indirect wholly owned subsidiary, FCStone Merchant Services, LLC, entered into a credit agreement on Aug. 10 with Bank of Montreal as administrative agent and BMO Capital Markets as lead arranger and bookrunner.

The agreement provides for a $50 million syndicated loan due May 31, 2013, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

Commitments may be increased at any time.

Interest is equal to Libor plus 250 basis points.

Proceeds will be used to finance the subsidiary's activities.

Based in New York, INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.