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BGC Group, Inc. (NASDAQ: BGC) has finalized a $700 million private offering of senior unsecured notes, carrying a coupon rate of 6.150% and maturing in 2030.
According to the latest SEC filing, “The proceeds will be used to retire $288.2 million of 4.375% senior notes due later this year, as well as $11.8 million in similar obligations issued by its subsidiary, BGC Partners, Inc., and the remaining funds will be allocated for general corporate purposes.”
The bond issuance is part of BGC Group’s broader strategy to extend its debt maturity profile and reduce short-term refinancing risks in an environment of uncertain interest rate movements.
“The offering, available exclusively to institutional investors, will not be registered under the Securities Act of 1933,” the filing further added.