Futures and options broker, MF Global, will issue convertible senior notes worth $250 million, due in 2016. The proceeds from the note sale are expected to be used to redeem outstanding debt under its $1.2 billion revolving credit facility and to fund hedging costs associated with the bond issue.
The broker will also grant the underwriters a 30-day option to purchase an additional $37.5 million of convertible notes. Goldman Sachs, Citi and Deutsche Bank Securities will be the joint book-running managers, while BofA Merrill Lynch, JPMorgan, RBS and Sandler O’Neill & Partners will act as co-managers for the offering of the convertible notes.
Click here for the release from Business Wire.