BGC Partners plans senior note offering subject to market conditions

By Cristal Cody

Tupelo, Miss., July 19 – BGC Partners, Inc. (BBB-/BBB-) announced plans on Thursday to price senior notes, subject to market conditions, in a private offering, according to a news release.

Proceeds will be used to repay revolving debt that was incurred to repay at maturity on Thursday all outstanding $240 million of the company’s 8.375% senior notes that were issued by subsidiary GFI Group Inc. and guaranteed by BGC Partners as part of its acquisition of GFI Group. Any additional proceeds may be used for general corporate purposes, which may include redemptions of the company’s 8.125% senior notes due 2042.

BGC Partners is a financial services company based in New York City.

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