International Assets Announces New Three Year Credit Facility
November 01 2010 - 12:11PM
International Assets Holding Corporation (Nasdaq:IAAC) announced
that it has completed a new three year, senior secured revolving
credit facility (the "Credit Facility") in the amount of $75
million. This facility replaces two one-year bilateral loans of $60
million in aggregate and will be used to finance working capital
needs of International Assets Holding Corporation and certain of
its subsidiaries.
Sean O'Connor, CEO, said, "We are pleased with this new credit
facility as it provides our group with increased financial
resources and a longer tenor than the facilities it replaces."
Banc of America Securities LLC was the lead arranger and book
manager of the Credit Facility and participants included
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., "Rabobank
Nederland" New York Branch and Macquarie Bank Limited.
About International Assets Holding
Corporation
International Assets Holding Corporation (INTL) provides
execution and advisory services in commodities, currencies and
international securities. INTL's businesses, which include the
commodities advisory and transaction execution firm FCStone Group,
serve more than 10,000 commercial customers in more than 100
countries through a network of offices in eleven countries around
the world.
Further information on INTL is available at
www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including
statements regarding the combined company. All statements other
than statements of current or historical fact contained in this
press release are forward-looking statements. The words
"believe," "expect," "anticipate," "should," "plan," "will," "may,"
"could," "intend," "estimate," "predict," "potential," "continue"
or the negative of these terms and similar expressions, as they
relate to International Assets Holding Corporation, are intended to
identify forward-looking statements.
These forward-looking statements are based largely on current
expectations and projections about future events and financial
trends that may affect the financial condition, results of
operations, business strategy and financial needs of the combined
company. They can be affected by inaccurate assumptions,
including the risks, uncertainties and assumptions described in the
filings made by International Assets with the Securities and
Exchange Commission. In light of these risks, uncertainties and
assumptions, the forward-looking statements in this press release
may not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements. When you
consider these forward-looking statements, you should keep in mind
these risk factors and other cautionary statements in this press
release.
These forward-looking statements speak only as of the date of
this press release. International Assets undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Accordingly,
readers are cautioned not to place undue reliance on these
forward-looking statements.
CONTACT: International Assets Holding Corporation
Bill Dunaway
866-522-7188
bdunaway@intlassets.com
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