Loan & DebtMay 15, 2026, 04:29 PM
BGC Group Secures $700M Revolving Credit Facility
AI Summary
BGC Group, Inc. entered into a Third Amended and Restated Credit Agreement, establishing a new $700 million unsecured senior revolving credit facility. This facility, which can be increased up to $900 million, extends the maturity date to May 15, 2030. The agreement includes updated financial covenants, with increased requirements for minimum net worth and net excess capital, and the company intends to use the funds for general corporate purposes.
Key Highlights
- Secured a new $700 million unsecured senior revolving credit facility.
- Facility has an option to increase up to $900 million.
- Maturity date extended to May 15, 2030.
- Initial applicable margin: 1.875% for Term SOFR, 0.875% for base rate borrowings.
- Estimated interest rate as of May 15, 2026, was approximately 5.48%.
- Financial covenants for minimum net worth and net excess capital have been increased.
- Company plans to use funds for general corporate purposes.
- $240 million of borrowings outstanding under the facility as of May 15, 2026.
Price Impact
More from BGC