INTL FCStone Extends Credit Facility by $65m Until 2019
- Revolving credit facility increased to $205m and extended until March 2019.
INTL FCStone, the US-headquartered global financial services group that is publicly listed on the Nasdaq under ticket INTL, today revealed an extension to its existing $140 million credit facility that will extend the maturity by another three years and increase it to $205 million, according to an official company press release.
Commenting on the news, INTL FCStone CEO Sean O'Connor said: "We are very pleased that we were able to increase the size of the credit facility by nearly 50% through increased support from our existing bankers and by expanding the bank group to include new relationships. This facility is an important part of our capital structure and is designed to fund short term Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term mismatches through our settlement processes during its extended three year term."
The company is engaged in a number of key financial markets including foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and derivatives, and recently entered the asset-backed securities (ABS) market segment, after the company reported Q1 earnings for the period ending December 31st that were lower than the previous quarter.
Therefore, the additional $65 million that is now accessible could help INTL FCStone catch up on ongoing targets within its roadmap as its CEO highlighted, following the momentum in its share price during 2015. The company stock price had recently hit an all-time-high in November near the $36 mark, since pulling back towards a support level of around $25 per share, and closed today just over $26 ahead of the news.
INTL FCStone, the US-headquartered global financial services group that is publicly listed on the Nasdaq under ticket INTL, today revealed an extension to its existing $140 million credit facility that will extend the maturity by another three years and increase it to $205 million, according to an official company press release.
Commenting on the news, INTL FCStone CEO Sean O'Connor said: "We are very pleased that we were able to increase the size of the credit facility by nearly 50% through increased support from our existing bankers and by expanding the bank group to include new relationships. This facility is an important part of our capital structure and is designed to fund short term Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term mismatches through our settlement processes during its extended three year term."
The company is engaged in a number of key financial markets including foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and derivatives, and recently entered the asset-backed securities (ABS) market segment, after the company reported Q1 earnings for the period ending December 31st that were lower than the previous quarter.
Therefore, the additional $65 million that is now accessible could help INTL FCStone catch up on ongoing targets within its roadmap as its CEO highlighted, following the momentum in its share price during 2015. The company stock price had recently hit an all-time-high in November near the $36 mark, since pulling back towards a support level of around $25 per share, and closed today just over $26 ahead of the news.