By Lisa Kerner
Charlotte, N.C., May 25 – BGC Partners, Inc. priced $300 million of 5.125% five-year senior notes on Wednesday, according to a news release.
The notes (/BBB-/BBB-) mature on May 27, 2021.
Proceeds will be used for general corporate purposes, which may include the repayment in full of BGC’s 4.5% convertible notes due July 15, 2016 and to fund potential acquisitions.
Interest is payable semiannually on May 27 and Nov. 27, beginning on Nov. 27, 2016.
Closing is expected to occur on May 27.
The notes will be general senior unsecured obligations of BGC Partners.
BGC Partners is a financial services company based in New York City.
| Issuer: | BGC Partners, Inc.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | May 27, 2021
|
| Coupon: | 5.125%
|
| Pricing date: | May 25
|
| Settlement date: | May 27
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
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