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BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or the "Company"), a leading global brokerage company servicing the financial and real estate markets, today announced an offer to exchange up to $285 million aggregate principal amount of its outstanding 5.125% Senior Notes due 2021 (the "Old Notes") for an equivalent amount of its 5.125% Senior Notes due 2021 registered under the Securities Act of 1933, as amended (the "Exchange Notes").
$300 million in aggregate principal amount of the Old Notes were issued and sold by the Company in May 2016, in a private offering.
The exchange offer will expire at 5:00 P.M., New York City time, on October 12, 2016, 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 Tenders of Old Notes must be made before the exchange offer expires and may be withdrawn any time prior to the expiration of the exchange offer.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.
The terms of the exchange offer are set forth in a prospectus dated September 14, 2016. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:
U.S. Bank, National Association
Corporate Trust Services
EP-MN-WS-2N
60 Livingston Avenue
St. Paul, MN 55107
Attention: Specialized Finance
Telephone: (800) 934-6802
The Company's affiliate, Cantor Fitzgerald Securities ("CFS"), holds $15 million aggregate principal amount of the $300 million aggregate principal amount of outstanding Old Notes. CFS will not participate in the exchange offer. After the completion of the exchange offer, the Company intends to file a shelf registration statement to enable CFS to resell such Old Notes pursuant to such registration statement.
This 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 United States Securities and Exchange Commission (the "SEC") as part of BGC Partners, Inc.'s Registration Statement on Form S-4 (File No. 333-213163), which was declared effective on September 13, 2016.
