Knight/Getco talks $305 million five-year notes at 8¼% area yield

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., May 21 - Getco Financing Escrow LLC (to be assumed by KGC Holding Inc.) has set yield talk for its planned $305 million of five-year senior secured notes (B2) in the area of 8¼%, according to a market source.

Books close at 3 p.m. ET on Tuesday, and pricing is expected shortly thereafter.

Jefferies & Co. and Goldman Sachs & Co. are the joint bookrunners.

Pierpont Securities is the co-manager for the Rule 144A and Regulation S with registration rights deal.

The notes will be callable in two years at par plus 75% of the coupon.

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.

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