| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Oppenheimer calls $30 million of 8¾% senior secured notes due 2018
New York, March 15 – Oppenheimer Holdings Inc. said it will redeem a further $30 million, or 20%, of the outstanding amount of its 8¾% senior secured notes due 2018.
The company will repay the notes on April 15 at par plus accrued interest, according to a news release.
Following completion of the redemption, the company will have $120 million of the notes outstanding.
Oppenheimer said it will save $2.6 million a year in interest costs by reducing the amount of notes remaining.
Proceeds from the sale of the company’s commercial mortgage banking business will be used to finance the redemption.
Oppenheimer previously repaid $50 million of the notes in March 2014, redeeming $45 million and retiring $5 million that it held itself.
Oppenheimer is a New York-based middle market investment bank and full service broker-dealer.
© 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.