OPPENHEIMER HOLDINGS INC. (NYSE:OPY) Files An 8-K Other EventsITEM 8.01. Other Events.
OPPENHEIMER HOLDINGS INC. (NYSE:OPY) Files An 8-K Other Events
Oppenheimer Holdings Inc. (the “Company”) announced that it will be redeeming a total of $30 million (20%) of its 8.75% Senior Secured Notes due 2018 (the “Notes”). The Company has delivered to the holders of the Notes a notice of partial redemption, notifying such holders of the Company’s intent to redeem on April 15, 2017 (the “Redemption Date”) $30 million aggregate principal amount of the outstanding Notes at a redemption price equal to 50% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date. Upon completion of the redemption, $120 million aggregate principal amount of the Notes will remain outstanding. The redemption of the Notes will reduce the Company’s interest costs by $2.6 million annually. The Company will use the net cash proceeds from the asset sales of its commercial mortgage banking business to finance the redemption of the Notes to be redeemed.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. Financial Statements and Exhibits.
(d)Exhibits:
The following exhibit is furnished (not filed) with this Current Report on Form 8-K:
99.1 Oppenheimer Holdings Inc.’s Press Release dated March 15, 2017
About OPPENHEIMER HOLDINGS INC. (NYSE:OPY)
Oppenheimer Holdings Inc. is a middle-market investment bank and service broker-dealer. The Company is engaged in a range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, investment banking, research, market-making, trust services, and investment advisory and asset management services. Its segments are Private Client, which provides financial services in the United States; Asset Management, which offers investment advisory services to its retail and institutional clients; Capital Markets, includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading; Commercial Mortgage Banking, engaged in the business of originating and servicing Federal Housing Administration insured multifamily and healthcare facility loans and securitizing these loans into Government National Mortgage Association mortgage-backed securities. OPPENHEIMER HOLDINGS INC. (NYSE:OPY) Recent Trading Information
OPPENHEIMER HOLDINGS INC. (NYSE:OPY) closed its last trading session up +0.20 at 16.95 with 24,539 shares trading hands.
Oppenheimer Holdings Inc. is a middle-market investment bank and service broker-dealer. The Company is engaged in a range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, investment banking, research, market-making, trust services, and investment advisory and asset management services. Its segments are Private Client, which provides financial services in the United States; Asset Management, which offers investment advisory services to its retail and institutional clients; Capital Markets, includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading; Commercial Mortgage Banking, engaged in the business of originating and servicing Federal Housing Administration insured multifamily and healthcare facility loans and securitizing these loans into Government National Mortgage Association mortgage-backed securities. OPPENHEIMER HOLDINGS INC. (NYSE:OPY) Recent Trading Information
OPPENHEIMER HOLDINGS INC. (NYSE:OPY) closed its last trading session up +0.20 at 16.95 with 24,539 shares trading hands.
