BPSG Broadpoint Gleacher Securities Grp., Inc. (MM)

Broadpoint Capital, Inc., a broker-dealer subsidiary of Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) today announced that it acted as sole bookrunner in connection with the offering by REI Agro Limited of US$ 105 million of Foreign Currency Convertible Bonds (FCCBs) with international investors . The bonds, due 2014, carry an interest rate of 5.5 per cent per annum. The bonds were sold under a combination of Regulation S and Regulation 144A of the U.S. Securities Act. ISM Capital LLP, a London-based investment banking boutique, acted as financial advisor to REI Agro. Last month, Broadpoint.Gleacher announced its agreement to acquire ISM, subject to FSA approval, and to create Broadpoint International in connection with its international initiative.

REI Agro, the world’s largest basmati rice processing and marketing company, reported FY09 revenues of US$ 481.3m and net profit of USD$ 12.0m. The proceeds of this FCCB offering are intended to be used for financing the growth plans of REI Agro, including an increase in the company’s processing capacity.

Sundip Jhunjhunwala, CEO of REI Agro, commented on the transaction, “We are delighted to be one of the first midcap Indian companies to successfully raise FCCB’s since the credit crunch. This capital raise will position us well to implement our growth strategy. Broadpoint and ISM Capital have been instrumental in helping us complete this transaction and have engaged international investors of the highest calibre. We believe this transaction will create significant value for both REI and investors.”

Cliff Siegel, CEO of ISM Capital, added, “We are delighted to have partnered with Broadpoint in such a significant transaction and look forward to our becoming part of the Broadpoint.Gleacher team upon the closing of Broadpoint.Gleacher’s acquisition of ISM. We have been pleased with the response that we have had from investors and look forward to meeting the financing needs of growth companies as activity in markets such as India returns.”

KNG Securities LLP and Jermyn Capital Partners acted as sales agents in the transaction.

About Broadpoint.Gleacher

Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that provides corporations and institutional investors with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization and strategic alternative analysis services. The Company offers a diverse range of products through the Debt Capital Markets, Investment Banking and Broadpoint DESCAP divisions of Broadpoint Capital, Inc., its Investment Banking financial advisory subsidiary, Gleacher Partners LLC, its Equity Capital Markets subsidiary, Broadpoint AmTech and FA Technology Ventures Inc., its venture capital subsidiary. For more information, please visit www.bpsg.com.

Forward Looking Statements

This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and acceptance of the Company's services within those markets and other risks and factors identified from time to time in the Company's filings with the Securities and Exchange Commission. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any of its forward-looking statements.

This announcement is not an offer for sale of securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States.

Broadpoint Gleacher Securities Grp., Inc. (MM) (NASDAQ:BPSG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Broadpoint Gleacher Securities Grp., Inc. (MM) (NASDAQ:BPSG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024