FXCM Pays Additional $54 Million Owed to Leucadia
April 02 2015 - 7:58AM
Avoids Contingent Financing Fee of $30 Million
NEW YORK, April 2, 2015 (GLOBE NEWSWIRE) -- FXCM
Inc. (NYSE:FXCM) a leading online provider of foreign exchange (FX)
trading and related services, today announced that it has repaid an
additional $54 million outstanding under its credit agreement with
Leucadia. The payment was funded in part with proceeds from the
sale of FXCM Japan. FXCM has now repaid $66 million under the
credit agreement, and as of April 1, 2015, FXCM's outstanding
Leucadia loan balance is $244 million.
By repaying more than $60 million before April 16,
2015, FXCM has avoided a contingent financing fee of $30 million,
and FXCM shareholders stand to benefit from an improved sharing
determination of proceeds from future asset sales, dividends and
distributions pursuant to the terms of the credit agreement.
"FXCM is pleased with how our debt reduction plan
is proceeding," said Drew Niv, CEO of FXCM. "We are ahead of plan
and the results of the FXCM Japan sale exceeded our expectations.
With all the increased attention to our other properties, we are
expecting robust and competitive auctions for the other non-core
assets we have targeted to sell."
FXCM anticipates making an additional repayment of
approximately $12 million towards the credit facility in the coming
weeks.
Disclosure Regarding
Forward-Looking Statements
Certain statements contained herein may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and/or the Private Securities Litigation Reform Act of
1995, which reflect FXCM's current views with respect to, among
other things, its operations and financial performance in the
future. These forward-looking statements are not historical facts
and are based on current expectations, estimates and projections
about the FXCM's industry, management's beliefs and certain
assumptions made by management, many of which, by their nature, are
inherently uncertain and beyond our control. Accordingly, readers
are cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict
including, without limitation, risks associated with the events
that took place in the currency markets on January 15, 2015 and
their impact on FXCM's capital structure, risks associated with
FXCM's ability to recover all or a portion of any capital losses,
risks relating to the ability of FXCM to satisfy the terms and
conditions of or make payments pursuant to the terms of the credit
agreement with Leucadia, risks related to FXCM's dependence on FX
market makers, market conditions, and those other risks described
under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and
other reports or documents FXCM files with, or furnishes to, the
SEC from time to time, which are accessible on the SEC website at
sec.gov. This information should also be read in conjunction with
the FXCM's Consolidated Financial Statements and the Notes thereto
contained in the FXCM's Annual Report on Form 10-K, and in other
reports or documents the FXCM files with, or furnishes to, the SEC
from time to time, which are accessible on the SEC website at
sec.gov.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of
online foreign exchange (forex) trading, CFD trading, spread
betting and related services. Our mission is to provide global
traders with access to the world's largest and most liquid market
by offering innovative trading tools, hiring excellent trading
educators, meeting strict financial standards and striving for the
best online trading experience in the market.
Clients have the advantage of mobile trading,
one-click order execution and trading from real-time charts. In
addition, FXCM offers educational courses on forex trading and
provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin
carries a high level of risk, which may result in losses that could
exceed your deposits, therefore may not be suitable for all
investors. Read full disclaimer.
Visit www.fxcm.com and follow us on Twitter @FXCM,
Facebook FXCM, Google+ FXCM or YouTube FXCM.
CONTACT: FXCM Inc.
Jaclyn Klein, 646-432-2463
Vice-President, Corporate Communications
jklein@fxcm.com
investorrelations@fxcm.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FXCM Inc. via Globenewswire
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