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By The Online Investor Staff, updated Thu., Apr. 25, 11:50 PM
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Corporate Bonds| This Slide: #5 of 25 |
Slide #5. FXCM Inc. — Corporate Bonds
Company:
FXCM Inc. (FXCM)
$Amount Offered:
$150,000,000
Date of Pricing:
5/29/2013
Bond Offering Details:
FXCM Inc. (NYSE:FXCM) today announced the pricing of its private offering of $150.0 million aggregate principal amount of 2.25% Convertible Senior Notes due 2018, which was upsized from the previously announced $125.0 million offering, to be sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). FXCM Inc. has also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $22.5 million in aggregate principal amount of notes. The offering is expected to close on June 3, 2013, subject to customary closing conditions.
FXCM is a holding company. Through its membership interest in FXCM Holding, LLC, Co. is an online provider of foreign exchange (FX) trading and related services to retail and institutional customers. Co.'s primary offering to retail customers is an agency execution or an agency model. Under the agency model, when a customer executes a trade on the price quotation provided by the FX market maker, Co. acts as a credit intermediary, or a riskless principal, simultaneously entering into a trade with the customer and the FX market maker. Co. also provides its customers the ability to trade contract for differences and spread betting through U.K. subsidiaries.
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| Avg. Broker Rec.
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Strong Sell (0.00 out of 4) 100th percentile
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