FXCM Inc. Announces Proposed Private Offering of $125 Million of Convertible Senior Notes
Forex broker FXCM has announced that it intends to offer $125 million in convertible senior notes due in 2018. FXCM

Forex broker FXCM has announced that it intends to offer $125 million in convertible senior notes due in 2018. FXCM stated that they will be using a portion of the proceeds to repay approximately $80 million of the firm’s revolving credit facility. They added that they “intend to use the remaining net proceeds from the offering for general corporate purposes, including potential future acquisitions.”
FXCM has been pretty vocal in its conference calls and media correspondence that it is putting an emphasis on shareholder creation. Proposed plans include accretive acquisitions, share buybacks, and cost reductions. The current convertible debt offering follows that trend, as FXCM is counting on the ability to tap ‘cheap’ money to help boost their financial fundamentals; thereby leading to an increased stock price. During the Forex Magnates M&A Panel in London last year, FXCM CEP Drew Niv mentioned that despite the hardships of being a public company, it has provided them better opportunities for tapping the credit and debt markets, as well as allowing them to source better terms with their counterparties.
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Whats the yield on these notes?
Whats the yield on these notes?
very cool, i would bet the lot at gcrap salivating, and the investors at gcap are turning green w/envy and anger at not being able to participate in such a dynamic firm. Luckily glenn n tim are in charge maybe they can buy some small broker in kazakhastan and tell shareholder its a good deal.. hahaha. Looks like a option for fxcm shareholders to offer shares above market and get paid.. in a hedged accretive transaction..
very cool, i would bet the lot at gcrap salivating, and the investors at gcap are turning green w/envy and anger at not being able to participate in such a dynamic firm. Luckily glenn n tim are in charge maybe they can buy some small broker in kazakhastan and tell shareholder its a good deal.. hahaha. Looks like a option for fxcm shareholders to offer shares above market and get paid.. in a hedged accretive transaction..
u see 31 sold a chunk of the GCAP position..
u see 31 sold a chunk of the GCAP position..