Business
BGC Partners Announces Extension of Exchange Offer For Its 4.375% Senior Notes Due 2025
NEW YORK, Oct. 8, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or the "Company"), a leading global brokerage and financial
About this update from Bgc Group, Inc.
[{"type":"text","content":"NEW YORK, Oct. 8, 2020 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) (\"BGC Partners,\" \"BGC,\" or the \"Company\"), a leading global brokerage and financial technology company, today announced that it had extended its offer (the \"Exchange Offer\") to exchange up to $300 million aggregate principal amount of its outstanding 4.375% Senior Notes due 2025 (the \"Old Notes\") for an equivalent amount of its 4.375% Senior Notes due 2025 registered under the Securities Act of 1933, as amended (the \"Exchange Notes\"). The Company issued and sold $300 million in aggregate principal amount of the Old Notes in a private offering in July 2020.\nThe Exchange Offer, previously scheduled to expire at 5:00 p.m., New York City time, on Wednesday, October 7, 2020, will now expire at 5:00 p.m., New York City time, on Wednesday, October 14, 2020, unless further extended. $298,570,000 in aggregate principal amount, or 99.52%, of the outstanding Old Notes were tendered in the Exchange Offer as of 5:00 p.m., October 7, 2020.\nThe terms of the exchange offer are set forth in a prospectus dated September 9, 2020. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:\nWells Fargo Bank, N.A. Corporate Trust Operations MAC N9300-070600 South Fourth StreetMinneapolis, MN 55402Telephone: 1-800-344-5128\nThis press release is for informational purposes only and is neither an offer to buy nor a solicitation of an offer to 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 BGC's Registration Statement on Form S-4 (File No. 333-248472), which was declared effective on September 8, 2020.\nAbout BGC Partners, Inc.BGC Partners is a leading global brokerage and financial technology company. BGC specializes in the brokerage of a broad range of products, including fixed income (rates and credit), foreign exchange, equities, energy and commodities, shipping, insurance, and futures. BGC also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Through b...