Oppenheimer Holdings will buy back $160.82 million in exchangeable debentures

By Sheri Kasprzak

New York, June 16 - Oppenheimer Holdings Inc. said it plans to repurchase $160,822,400 in principal of exchangeable debentures plus interest.

The debentures, first purchased by CIBC World Markets Corp. in 2003, will be fully redeemed by July 31.

The debentures are exchangeable for 6.9 million class A non-voting shares at $23.20 each.

The debentures bear interest at 4% in 2006 and at 5% from 2007 through maturity on Jan. 2, 2013.

Also, Oppenheimer has received a commitment from Morgan Stanley Senior Funding, Inc. for a senior secured credit facility for up to $125 million. The facility has a seven-year term and a variable interest rate based on Libor.

Oppenheimer, based in New York, is the holding company for Oppenheimer & Co. Inc., a financial services company.

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