NEW YORK, Sept. 15, 2016 /PRNewswire/ -- 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exchange offer expires and may be withdrawn any time prior to the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.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC owns GFI Group Inc., a leading intermediary and
provider of trading technologies and support services to the global
OTC and listed markets. The Company's Financial Services
offerings include fixed income securities, interest rate swaps,
foreign exchange, equities, equity derivatives, credit derivatives,
commodities, futures, and structured products. BGC provides a
wide range of services, including trade execution, broker-dealer
services, clearing, trade compression, post trade, information, and
other services to a broad range of financial and non-financial
institutions. Through brands including FENICS, BGC Trader, and BGC
Market Data, BGC offers financial technology solutions, market
data, and analytics related to numerous financial instruments and
markets. Real Estate Services are offered through brands
including Newmark Grubb Knight
Frank, Newmark Cornish &
Carey, ARA, Computerized Facility Integration, Landauer Valuation
& Advisory, and Excess Space. Under these names, the
Company provides a wide range of commercial real estate services,
including leasing and corporate advisory, investment sales and
financial services, consulting, project and development management,
and property and facilities management. BGC's customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations,
property owners, real estate developers, and investment
firms. BGC's common stock trades on the NASDAQ Global Select
Market under the ticker symbol (NASDAQ: BGCP). BGC also has an
outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock
Exchange under the symbol (NYSE: BGCA). BGC Partners is led by
Chairman and Chief Executive Officer Howard
W. Lutnick. For more information, please visit
http://www.bgcpartners.com.
BGC, BGC Trader, GFI, FENICS, FENICS.COM, Capitalab,
Swaptioniser, Newmark, Grubb & Ellis, and Grubb are trademarks,
registered trademarks and/or service marks of BGC Partners, Inc.
and/or its affiliates. Knight Frank is a service mark of
Knight Frank (Nominees) Limited.
Discussion of Forward-Looking Statements about BGC
Partners
Statements in this document regarding BGC's
businesses that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. Except as
required by law, BGC undertakes no obligation to release any
revisions to 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 set forth in its
public filings, including the most recent Form 10-K and any updates
to such risk factors contained in subsequent Forms 10-Q or Forms
8-K.
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