Business
BGC Announces Launch of Exchange Offer for its 6.600% Senior Notes due 2029
NEW YORK, Aug. 26, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) ("BGC" or the "Company") today announced an offer to exchange up to $500 million
About this update from Bgc Group, Inc.
[{"type":"text","content":"NEW YORK, Aug. 26, 2024 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) (\"BGC\" or the \"Company\") today announced an offer to exchange up to $500 million aggregate principal amount of its outstanding 6.600% Senior Notes due 2029 (the \"Old Notes\") for an equivalent amount of its 6.600% Senior Notes due 2029 registered under the Securities Act of 1933, as amended (the \"Exchange Notes\").\n$500 million aggregate principal amount of Old Notes were issued and sold by the Company in June 2024 in a private offering.\nThe exchange offer will expire at 5:00 p.m., New York City time, on September 24, 2024, unless extended. Tenders of Old Notes must be made before the exchange offer expires and may be withdrawn any time prior to the expiration of the exchange offer. 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.\nThe terms of the exchange offer are set forth in a prospectus dated August 26, 2024. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:\nWilmington Trust, National Association 50 South Sixth Street, Suite 1290 Minneapolis, Minnesota 55402 Attn: BGC Group Notes Administrator Email: [email protected] Facsimile: (612) 217-5651\nThis 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.\nDiscussion of Forward-Looking Statements About BGC\nStatements in this document regarding BGC that are not historical facts are \"forward-looking statements\" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that t...