BGC Group, Inc. has announced an exchange offer for its 6.600% senior notes due 2029. The company is offering to exchange up to $500 million aggregate principal amount of its outstanding 6.600% senior notes due 2029 (referred to as the "old notes") for an equivalent amount of its 6.600% senior notes due 2029 registered under the Securities Act of 1933, as amended (referred to as the "exchange notes").
The $500 million aggregate principal amount of old notes were issued and sold by the company in June 2024 in a private offering. The exchange offer will expire at 5:00 p.m., New York City time, on September 24, 2024, unless extended. Holders of the old notes must make tenders before the exchange offer expires and may withdraw them at any time before the expiration of the exchange offer.
It's important to note that the exchange offer is being made to satisfy the company’s obligations under a registration rights agreement entered into in connection with the issuance of the old notes and does not represent a new financing transaction.
The terms of the exchange offer are set forth in a prospectus dated August 26, 2024. Copies of the prospectus and other exchange offer documents may be obtained from the exchange agent, Wilmington Trust, National Association.
This press release is for informational purposes only and is neither an offer to buy or sell nor a solicitation of an offer to buy or sell any old notes or exchange notes. The exchange offer is being made only pursuant to the exchange offer prospectus, which is being distributed to holders of the old notes and has been filed with the Securities and Exchange Commission as part of the company’s registration statement on Form S-4 (file no. 333-281372), which was declared effective on August 23, 2024. As a result of these announcements, the company's shares have moved 0.5% on the market, and are now trading at a price of $9.74. If you want to know more, read the company's complete 8-K report here.
