Stonex Group Inc. (Nasdaq: SNEX) today announced an offer, without prejudice to market conditions and other factors, of $ 625.0 million in a total major amount of superior securitized notes due to 2032 issued by its entirely subsidiary, Stonex Escrow Vissuer LLC.
The notes and the guarantees will be offered to a private bid to persons who are reasonably believed to be specialized institutional buyers in accordance with Article 144A in accordance with the 1933 securities law, as amended by some persons outside the United States in accordance with regulations S according to the Capital Act.
Stonex Escrow Essuer LLC, which was created exclusively to issue the notes in relation to the merger, will deposit the gross bid revenue in a separated accounting account until the date
When closing the proposed acquisition of RJ O’Brien (RJO), Stonex Escrow Issuer LLC will be merged with and in Stonex and release revenue will be released. The company will then take over the obligations based on the notes.
By closing the merger and revenue liberalization, the company intends to use the revenue from the bid together with the cash to pay the purchase price and the fees, the costs, the premiums and the expenses in relation to the merger.
By the time the merger is completed, the notes will not be guaranteed and will only be secured by a higher priority security in revenue. At the closing of the merger, the notes will be fully and unconditionally guaranteed, jointly and separately, in the highest securing the second security of each of the existing and future subsidiaries of the company guaranteeing debts in the context of the higher secured credit and other company. Guarantees are subject to release under certain conditions.
By closing the merger, notes and guarantees will be secured on the basis of the second priority of security in essentially all the assets and assets of the Company and the Guarantees, without prejudice to certain exceptions and permissible specifications.
The notes are expected to pay for six months in delays.