NEW YORK, June 6, 2017 /CNW/ - Oppenheimer Holdings Inc.
("OPY") announced today that it is proposing to issue up to
$200 million aggregate principal
amount of senior secured notes due 2022 (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 a portion of the net proceeds from the
offering of the Notes to redeem in full its 8.75% Senior Secured
Notes due April 15, 2018, and pay all
related fees and expenses in relation thereto. The remaining net
proceeds from this offering will be used for general corporate
purposes, which may include acquisitions of or investments in other
businesses that OPY believes will complement its current
businesses. 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 Holdings Inc., through its operating subsidiaries,
is a leading middle market investment bank and full service
broker-dealer that provides a wide range of financial services
including retail securities brokerage, institutional sales and
trading, investment banking (both corporate and public finance),
research, market-making, trust, and investment management. With
roots tracing back to 1881, the firm is headquartered in
New York and has 98 offices in 24
states and 5 foreign jurisdictions.
Forward-Looking Statements
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, OPY's intention to consummate the proposed offering on
the terms described herein and the intended use of proceeds from
the offering. The consummation of the offering is subject to market
conditions and other factors that are beyond OPY's control.
Accordingly, no assurance can be given that the offering will be
completed on the contemplated terms or at all and you should not
place undue reliance on any forward-looking statements contained in
this press release. For a discussion of some of the risks and
important factors that could affect such forward-looking
statements, reference is made to Factors Affecting "Forward-Looking
Statements" and Part 1A—Risk Factors in OPY's Annual Report on Form
10-K for the year ended December 31,
2016. OPY does not undertake any obligation to release
publicly any revisions to forward-looking statements made by it to
reflect events or circumstances occurring after the date hereof or
the occurrence of unanticipated events.
SOURCE Oppenheimer Holdings Inc.