By Kenneth Lim
Boston, Aug. 28 - Evercore Partners Inc. released details on its $120 million sale of 5.2% senior unsecured notes due Aug. 28, 2020 and a warrant to Mizuho Corporate Bank, Ltd., according to a filing with the Securities and Exchange Commission.
The notes were sold at a 20% discount.
The notes are non-callable as long as Mizuho and its permitted transferees is the holder. If the notes have been transferred, Evercore may call the notes from Aug. 28, 2011 onwards.
The warrant allows the holder to purchase 5.454545 million shares of Evercore Class A common stock at $22 per share until Aug. 28, 2020.
Evercore is a New York-based investment banking boutique.
Proceeds from the placement will be used to fund a number of investment management opportunities, which are expected to be announced before the end of the year, and to build out Evercore's investment management and strategic advisory businesses. As part of the deal, a representative of Mizuho will become a member of Evercore's board of directors.
| Issuer: | Evercore Partners Inc.
|
| Security description: | Senior unsecured notes and warrant
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| Amount: | $120 million
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| Maturity: | Aug. 28, 2020
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| Coupon: | 5.2%
|
| Price: | 80
|
| Call: | Non-callable if Mizuho remains holder; callable from Aug. 28, 2011 if not held by Mizuho
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| Warrants: | 1 warrant to buy 5.454545 million shares of Evercore class A stock at $22 per share until Aug. 28, 2020
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| Investors: | Mizuho Corporate Bank, Ltd.
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| Settlement date: | Aug. 28
|
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