NEW YORK, Nov. 2, 2018 /PRNewswire/ -- Newmark Group, Inc.
(NASDAQ: NMRK) ("Newmark" or the "Company") today announced the
pricing of an offering of $550
million aggregate principal amount of 6.125% Senior Notes
due 2023 (the "Notes"). The Notes are being offered and sold in a
private offering exempt from the registration requirements under
the Securities Act of 1933, as amended (the "Securities Act").
The Notes were priced yesterday and will be general senior
unsecured obligations of Newmark. The Notes bear an interest rate
of 6.125% per annum, payable on each May
15 and November 15, beginning
on May 15, 2019, and will mature on
November 15, 2023. The Company
intends to use the net proceeds from the offering to repay
outstanding related party debt and intercompany loans owed to or
guaranteed by its parent company BGC Partners, Inc. (NASDAQ: BGCP)
("BGC Partners", or "BGC"), including the Company's $134 million of bank term loan debt. The closing,
subject to customary conditions, is scheduled to occur on
November 6, 2018.
The Notes to be offered by the Company have not been registered
under the Securities Act or the securities laws of any other
jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration. This notice is issued
pursuant to Rule 135c under the Securities Act, and does not
constitute an offer to sell nor a solicitation of an offer to buy
any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
Discussion of Forward-Looking Statements about Newmark and
BGC Partners
Statements in this document regarding Newmark
and BGC that are not historical facts are "forward-looking
statements" that involve risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements. Except as required by law, Newmark and
BGC undertake no obligation to update any forward-looking
statements. For a discussion of additional risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see Newmark's and BGC's Securities
and Exchange Commission filings, including, but not limited to, the
risk factors set forth in these filings and any updates to such
risk factors contained in subsequent Forms 10-K, Forms 10-Q or
Forms 8-K.
Media Contact:
Karen
Laureano-Rikardsen
+1 212-829-4975
Investor Contacts:
Jason
McGruder
+1 212-610-2426
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SOURCE Newmark Group, Inc.