Business
BGC Group, Inc. Announces Early Participation Results in Exchange Offers and Consent Solicitations and Extension of Early Participation Premium
NEW YORK, Sept. 20, 2023 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) ("BGC Group") today announced that, as of 5:00 p.m., New York City time, on September
About this update from Bgc Group, Inc.
[{"type":"text","content":"NEW YORK, Sept. 20, 2023 /PRNewswire/ -- BGC Group, Inc. (Nasdaq: BGC) (\"BGC Group\") today announced that, as of 5:00 p.m., New York City time, on September 19, 2023 (the \"Early Participation Date\" or the \"Consent Revocation Deadline\"), the aggregate principal amounts of the three series of notes described in the table below (collectively, the \"Old Notes\") issued by BGC Partners, Inc., BGC Group's wholly owned subsidiary (\"BGC Partners\"), had been validly tendered and not validly withdrawn in connection with BGC Group's previously announced offers to exchange (the \"exchange offers\") any and all validly tendered (and not validly withdrawn) and accepted Old Notes of each such series for new notes to be issued by BGC Group with the same respective interest rates and maturity dates (collectively, the \"New Notes\"). In connection with the exchange offers, BGC Group (on behalf of BGC Partners) is soliciting consents (the \"consent solicitation\") from (i) holders of the Old Notes to certain proposed amendments to the indenture between BGC Partners and Computershare Trust Company, National Association, as successor to Wells Fargo Bank, National Association, as trustee (the \"Old Base Indenture\") and corresponding supplemental indenture pursuant to which the applicable series of Old Notes were issued to eliminate certain affirmative and restrictive covenants and events of default (collectively, the \"proposed indenture amendments\") and (ii) each holder of BGC Partners' outstanding 8.000% Senior Notes due May 25, 2028 (the \"Old 2028 Notes\") to amend the Registration Rights Agreement, dated May 25, 2023, relating to the Old 2028 Notes (the \"Old 2028 Notes Registration Rights Agreement\") to terminate such agreement (collectively, with the proposed indenture amendments, the \"proposed amendments\"). A registration statement on Form S-4 (File No. 333-274356) (the \"Registration Statement\") relating to the exchange offers and consent solicitations was filed with the Securities and Exchange Commission (\"SEC\") on September 6, 2023, but has not yet been declared effective.\nTitle of Series of Old Notes\nCUSIP\nAggregate Principal Amount Tendered and Consents Received as of the Early Participation Date\nPercentage of Total Outstanding Principal Amount of Such Series Tendered and Consenting\n3.750% Senior Notes due October 1,...