New Issue: Knight/Getco prices $305 million five-year notes at par to yield 8¼%

By Paul A. Harris

Portland, Ore., May 21 - Getco Financing Escrow LLC priced a $305 million issue of five-year senior secured notes (B2/B/) at par to yield 8¼% on Tuesday, according to a syndicate source.

The yield printed on top of yield talk.

Jefferies LLC and Goldman Sachs & Co. were the joint bookrunners.

Proceeds, together with a new credit facility, will be used to refinance debt and finance the merger between Knight Capital Group Inc. and Getco.

Getco is a Chicago-based buyer and seller of securities.

Knight Capital is a Jersey City, N.J.-based financial services firm.

Issuer:	Getco Financing Escrow LLC (to be assumed by KCG Holding, Inc.)
Amount:	$305 million
Maturity:	June 15, 2018
Securities:	Senior secured notes
Bookrunners:	Jefferies LLC, Goldman Sachs & Co.
Co-managers:	Knight Capital Americas LLC, Pierpont Securities LLC
Coupon:	8¼%
Price:	Par
Yield:	8¼%
Call features:	Make-whole call at Treasuries plus 50 bps until June 15, 2015, then callable at 104.125, 102.063, par on and after June 15, 2017
Equity clawback:	35% at 108.25 until June 15, 2015
Change-of-control put:	101%
Trade date:	May 21
Settlement date:	June 5
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	8¼% area
Marketing:	Roadshow

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