OPPENHEIMER ANNOUNCES PROPOSED SENIOR SECURED NOTES OFFERING
March 30 2011 - 7:00AM
PR Newswire (Canada)
NEW YORK, March 30 /CNW/ -- NEW YORK, March 30 /CNW/ - Oppenheimer
Holdings Inc. ("OPY") announced today that it is proposing to issue
approximately $200 million aggregate principal amount of senior
secured notes due 2018 (the "Notes") in a private offering that is
exempt from the registration requirements of the Securities Act of
1933, as amended (the "Securities Act"). The Notes will be
guaranteed on a senior secured basis by OPY's subsidiaries, E.A.
Viner International Co. and Viner Finance Inc. The Notes will be
secured by first-priority security interest in substantially all of
OPY's and the subsidiary guarantors' existing and future tangible
and intangible assets. The Notes will not be registered under the
Securities Act or any state securities law and may not be offered
or sold in the United States absent registration or an applicable
exemption from registration under the Securities Act and applicable
state securities laws. The Notes will be offered in the United
States only to qualified institutional buyers under Rule 144A of
the Securities Act and outside the United States under
Regulation S of the Securities Act. OPY intends to use the net
proceeds from the offering of the Notes to refinance (i) $22.5
million outstanding as of December 31, 2010 under its Secured
Credit Note and (ii) all amounts outstanding under its $100.0
million Subordinated Note. The remaining net proceeds of this
offering will be used for general corporate purposes. The proposed
offering of the Notes is subject to market and other conditions,
and may not occur as described or at all. This press release shall
not constitute an offer to sell or the solicitation of an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. Company Information Oppenheimer, through its
principal subsidiaries, Oppenheimer & Co. Inc. (a U.S.
broker-dealer) and Oppenheimer Asset Management Inc., offers a wide
range of investment banking, securities, investment management and
wealth management services from 96 offices in 26 states and through
local broker-dealers in 4 foreign jurisdictions. Oppenheimer
employs over 3,500 people. The Company offers trust and estate
services through Oppenheimer Trust Company. OPY Credit Corp. offers
syndication as well as trading of issued corporate loans.
Oppenheimer Multifamily Housing & Healthcare Finance, Inc.
(formerly called Evanston Financial Corporation) is engaged in
mortgage brokerage and servicing. In addition, through Freedom
Investments, Inc. and the BUYandHOLD division of Freedom,
Oppenheimer offers online discount brokerage and dollar-based
investing services. Forward-Looking Statements This press release
includes certain "forward-looking statements" relating to
anticipated future performance. For a discussion of the factors
that could cause future performance to be different than
anticipated, reference is made to Factors Affecting
"Forward-Looking Statements" and Part 1A—Risk Factors in
Oppenheimer's Annual Report on Form 10-K for the year ended
December 31, 2010. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/March2011/30/c7653.html
p A.G. Lowenthal 212 668-8000 or E.K. Roberts 416 322-1515 /p
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