US LNG exports surge but will buyers in China turn up?
Marex Group plc, a company operating in the securities and commodities brokerage sector, has finalized its offering of $500 million in 5.829% Senior Notes due on May 8, 2028. The London-based company announced the completion of the offering today, following an underwriting agreement dated May 1, 2025, with Barclays (LON:BARC) Capital Inc., Goldman Sachs & Co (NYSE:GS). LLC, and Jefferies LLC as the joint book-runners and underwriters.
The notes were issued under a Senior Indenture dated October 15, 2024, and a Second Supplemental Indenture dated today. Interest on the notes is payable semi-annually on May 8 and November 8, starting November 8, 2025, with the rate subject to adjustments based on credit ratings from specific agencies.
Marex Group has the option to redeem the notes in whole or in part before April 8, 2028, at a make-whole redemption price, and on or after this date, at 100% of the principal amount plus accrued interest. Moreover, if 75% of the notes are redeemed or purchased and cancelled, the company can redeem the remaining notes at 100% of their principal value.
In case of a "Change of Control Triggering Event," as defined in the indenture, note holders may require Marex to repurchase their notes at 101% of the principal amount plus accrued interest.
The proceeds from this issuance are intended for working capital, funding incremental growth, and other general corporate purposes. The notes, being senior unsecured obligations, rank equally with the company’s current and future unsecured and unsubordinated debt.
The offering was made under the company’s Registration Statement on Form F-3, which became effective automatically upon filing with the Securities and Exchange Commission.
The details of the offering, including the underwriting agreement, indentures, and notes, are included in the exhibits filed with the SEC as part of this Form 6-K, which is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.