NEW YORK, Sept. 5, 2018 /PRNewswire/ -- BGC Partners,
Inc. (NASDAQ: BGCP) ("BGC Partners" or "BGC,"), a leading global
brokerage company servicing the financial and real estate markets,
today announced the completion of its redemption of all outstanding
$112.5 million principal amount of
its 8.125% Senior Notes due 2042, at par plus accrued and unpaid
interest up to, but excluding, today.
In addition and as previously announced, BGC Partners loaned its
publicly traded Real Estate Services subsidiary, Newmark Group,
Inc. (NASDAQ: NMRK) ("Newmark" or "Newmark Group"), $112.5 million at an annual interest rate of 6.5%
on September 4, 2018. The loan was
approved by the Board of Directors and Audit Committee of each of
BGC and Newmark. Newmark used the proceeds to repay an intercompany
note owed to BGC incurred in connection with the original issuance
of the redeemed notes, and BGC used the proceeds of the repayment
to complete the note redemption.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC offers Real Estate Services through its publicly
traded subsidiary Newmark Group, Inc. ("Newmark Group"). BGC's
Financial Services offerings include fixed income securities,
interest rate swaps, foreign exchange, equities, equity
derivatives, credit derivatives, commodities, futures, and
structured products. BGC's Financial Services customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations, and
investment firms. BGC, BGC Trader, GFI, Fenics, Fenics Market Data,
Capitalab, and Lucera are trademarks/service marks and/or
registered trademarks/service marks of BGC Partners, Inc. and/or
its affiliates. BGC's common stock trades on the NASDAQ Global
Select Market under the ticker symbol (NASDAQ: BGCP). BGC Partners
is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please
visit http://www.bgcpartners.com. You can also follow BGC at
https://twitter.com/bgcpartners,
https://www.linkedin.com/company/bgc-partners, and/or
http://ir.bgcpartners.com.
About Newmark Group, Inc.
Newmark Group, through
subsidiaries, operates as a full-service commercial real estate
services business with a complete suite of services and products
for both owners and occupiers across the entire commercial real
estate industry. Newmark Group has relationships with many of the
world's largest commercial property owners, real estate developers
and investors, as well as Fortune 500 and Forbes Global 2000
companies. Newmark Group is listed on the NASDAQ Global Select
Market under the symbol "NMRK". Newmark and Berkeley Point are
trademarks/service marks and/or registered trademarks/service marks
of Newmark Group, Inc. and/or its affiliates. Knight Frank is a
service mark of Knight Frank (Nominees) Limited. Find out more
about Newmark Group at http://www.ngkf.com,
https://twitter.com/newmarkkf,
https://www.linkedin.com/company/newmark-knight-frank, and/or
http://ir.ngkf.com.
Discussion of Forward-Looking Statements about BGC and
Newmark
Statements in this document regarding BGC and
Newmark 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. Except as required by law, BGC and
Newmark undertake 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 and Newmark's Securities
and Exchange Commission filings, including, but not limited to, the
risk factors set forth in these filings and any updates to such
risk factors contained in subsequent Forms 10-K, Forms 10-Q or
Forms 8-K.
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SOURCE BGC Partners, Inc.; Newmark Group, Inc.