BGC Announcing Tender Offer For Any And All Of Its $300 Million Outstanding 5.125% Senior Notes Due 2021

About this update from Bgc Group, Inc.

[{"type":"text","content":"NEW YORK, Aug. 5, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) (\"BGC\") today announced that it has commenced a cash tender offer for any and all $300 million outstanding aggregate principal amount of its 5.125% Senior Notes due 2021 (the \"Notes\"), on the terms and subject to the conditions set forth in the Offer to Purchase dated the date hereof (as it may be amended or supplemented from time to time, the \"Offer to Purchase\") and the related Notice of Guaranteed Delivery attached to the Offer to Purchase (as it may be amended or supplemented from time to time, the \"Notice of Guaranteed Delivery\"). The tender offer is referred to as the \"Offer.\" The Offer to Purchase and the Notice of Guaranteed Delivery are referred to together as the \"Offer Documents.\"\nCertain information regarding the Notes and the pricing for the Offer as of August 5, 2020, is set forth below:\nTitle of Security\nCUSIP / ISINNumbers\nPrincipal Amount Outstanding\nPurchase Price for each $1,000 of Notes\n5.125% Senior Notes due 2021\n05541T AH4, 05541T AG6 /\nUS05541TAH41, US05541TAG67\n$300,000,000\n$1,020.00\nHolders must validly tender (and not validly withdraw) their Notes, or deliver a properly completed and duly executed Notice of Guaranteed Delivery for their Notes, at or before the Expiration Time (as defined below) in order to be eligible to receive the Tender Offer Consideration (as defined below). In addition, holders whose Notes are purchased in the Offer will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date (as defined in the Offer to Purchase) for the Notes. BGC expects the Settlement Date to be August 14, 2020, the third business day after the Expiration Time.\nThe Offer will expire at 5:00 p.m., New York City time, on August 11, 2020 (such time and date, as it may be extended, the \"Expiration Time\"), unless extended or earlier terminated by BGC. Tendered Notes may be withdrawn at any time at or before the Expiration Time by following the procedures described in the Offer to Purchase.\nThe Offer to Purchase is not contingent upon the tender of any minimum principal amount of Notes. BGC's obligation to accept for purchase and pay for the Notes validly tendered pursuant to the Offer to Purchase is conditioned upon satisfaction or waiver of the conditions set...

More updates from Bgc Group, Inc.