By Andrea Heisinger
New York, July 14 - GFI Group, Inc. priced $250 million of seven-year senior notes early on Thursday at par to yield 8.375%, a market source said.
The notes (Ba2/BBB-/BBB) were priced under Rule 144A and Regulation S. They feature a make-whole call at Treasuries plus 50 bps.
Jefferies & Co. was the bookrunner.
Proceeds will be used to repay outstanding amounts, including interest, under a credit agreement and 7.17% senior notes. Any remainder will be used for general corporate purposes.
GFI attempted to tap the market with a $250 million offering of 10-year notes on Aug. 20, 2010 before withdrawing the deal to look at alternative structures. Company executives had said they would look at selling bonds at a later date.
The brokerage and trade execution company is based in New York City.
| Issuer: | GFI Group, Inc.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | July 19, 2018
|
| Bookrunner: | Jefferies & Co., Inc.
|
| Coupon: | 8.375%
|
| Price: | Par
|
| Yield: | 8.375%
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | July 14
|
| Settlement date: | July 19
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
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