BGC Announces Launch of Exchange Offer for its 6.600% Senior Notes due 2029
BGC Group (Nasdaq: BGC) 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 notes (Old Notes) for an equivalent amount of registered notes (Exchange Notes). The exchange offer will expire on September 24, 2024, at 5:00 p.m. New York City time, unless extended.
This exchange offer is being made to fulfill BGC's obligations under a registration rights agreement related to the initial issuance of the Old Notes in June 2024. It does not represent a new financing transaction. The exchange offer's terms are detailed in a prospectus dated August 26, 2024, with Wilmington Trust, National Association serving as the exchange agent.
BGC Group (Nasdaq: BGC) ha annunciato un'offerta di scambio per i suoi 6,600% Senior Notes in scadenza nel 2029. L'azienda offre di scambiare fino a 500 milioni di dollari di importo principale aggregato dei suoi titoli in circolazione (Old Notes) con un'ammontare equivalente di titoli registrati (Exchange Notes). L'offerta di scambio scadrà il 24 settembre 2024, alle 17:00 ora di New York, salvo proroghe.
Questa offerta di scambio viene effettuata per soddisfare gli obblighi di BGC ai sensi di un accordo di diritti di registrazione relativo all'emissione iniziale delle Old Notes avvenuta nel giugno 2024. Non rappresenta una nuova operazione di finanziamento. I termini dell'offerta di scambio sono dettagliati in un prospetto datato 26 agosto 2024, con Wilmington Trust, National Association che funge da agente di scambio.
BGC Group (Nasdaq: BGC) ha anunciado una oferta de intercambio por sus Bonos Senior del 6,600% que vencen en 2029. La compañía está ofreciendo intercambiar hasta 500 millones de dólares en monto principal agregado de sus bonos en circulación (Bonos Viejos) por un monto equivalente de bonos registrados (Bonos de Intercambio). La oferta de intercambio expeirará el 24 de septiembre de 2024, a las 5:00 p.m. hora de Nueva York, a menos que se extienda.
Esta oferta de intercambio se realiza para cumplir con las obligaciones de BGC bajo un acuerdo de derechos de registro relacionado con la emisión inicial de los Bonos Viejos en junio de 2024. No representa una nueva transacción de financiamiento. Los términos de la oferta de intercambio se detallan en un prospecto fechado el 26 de agosto de 2024, con Wilmington Trust, National Association actuando como agente de intercambio.
BGC 그룹(Nasdaq: BGC)은 2029년 만기 예정인 6.600% 선임 노트에 대한 교환 제안을 발표했습니다. 회사는 5억 달러의 원금 총액에 해당하는 기존 노트(Old Notes)를 등록된 노트(Exchange Notes)와 교환할 것을 제안하고 있습니다. 교환 제안은 2024년 9월 24일 오후 5시(뉴욕 시간)에 만료됩니다. 단, 연장이 가능합니다.
이번 교환 제안은 2024년 6월에 발행된 Old Notes의 초기 발행과 관련된 등록권 합의에 따른 BGC의 의무를 이행하기 위해 이루어집니다. 이는 새로운 자금 조달 거래를 나타내지 않습니다. 교환 제안의 조건은 2024년 8월 26일 자에 작성된 설명서에 자세히 설명되어 있으며, Wilmington Trust, National Association이 교환 대행자로 활동하고 있습니다.
BGC Group (Nasdaq: BGC) a annoncé une offre d'échange pour ses Obligations Seniors de 6,600% arrivant à échéance en 2029. L'entreprise propose d'échanger jusqu'à 500 millions de dollars d'un montant principal agrégé de ses obligations en circulation (Anciennes Obligations) contre un montant équivalent d'obligations enregistrées (Obligations d'Échange). L'offre d'échange expirera le 24 septembre 2024 à 17h00 heure de New York, sauf prolongation.
Cette offre d'échange est faite pour satisfaire les obligations de BGC en vertu d'un accord de droits d'enregistrement lié à l'émission initiale des Anciennes Obligations en juin 2024. Cela ne représente pas une nouvelle opération de financement. Les termes de l'offre d'échange sont détaillés dans un prospectus daté du 26 août 2024, avec Wilmington Trust, National Association agissant en tant qu'agent d'échange.
BGC Group (Nasdaq: BGC) hat ein Umtauschangebot für seine 6,600% Senior Notes mit Fälligkeit 2029 angekündigt. Das Unternehmen bietet an, bis zu 500 Millionen Dollar an ausstehenden Anleihen (alte Anleihen) gegen einen entsprechenden Betrag an registrierten Anleihen (Umtauschanleihen) zu tauschen. Das Umtauschangebot endete am 24. September 2024 um 17:00 Uhr New Yorker Zeit, es sei denn, es wird verlängert.
Dieses Umtauschangebot wird durchgeführt, um die Verpflichtungen von BGC aus einer Registrierungspflichtvereinbarung im Zusammenhang mit der ursprünglichen Emission der alten Anleihen im Juni 2024 zu erfüllen. Es stellt keine neue Finanzierungstransaktion dar. Die Bedingungen des Umtauschangebots sind in einem am 26. August 2024 datierten Prospekt detailliert beschrieben, wobei Wilmington Trust, National Association als Umtauschagent fungiert.
- Fulfilling registration rights agreement obligations, demonstrating commitment to regulatory compliance
- No new financing transaction, maintaining current debt levels
- None.
Insights
This exchange offer for BGC's 6.600% Senior Notes due 2029 is a routine financial maneuver with minimal impact on the company's financial position or investor sentiment. The exchange doesn't alter BGC's debt structure or cash flow obligations. It's primarily a regulatory compliance step, fulfilling registration rights agreements.
For investors, this action enhances liquidity and transparency of the notes, as registered securities are more easily tradable. However, it doesn't fundamentally change the investment thesis for BGC. The
The exchange offer will expire at 5:00 p.m.,
The 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:
Wilmington Trust, National Association
50 South Sixth Street, Suite 1290
Attn: BGC Group Notes Administrator
Email: DTC@wilmingtontrust.com
Facsimile: (612) 217-5651
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.
Discussion of Forward-Looking Statements About BGC
Statements 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 the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, BGC undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE BGC Group, Inc.
FAQ
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