StoneX Group Inc. Announces Pricing of $625.0 Million of Senior Secured Notes due 2032
StoneX Group (NASDAQ: SNEX) has announced the pricing of $625.0 million in 6.875% Senior Secured Notes due 2032. The notes will be issued through StoneX Escrow Issuer LLC and are being offered privately to qualified institutional buyers. The offering is expected to close around July 8, 2025.
The proceeds will be held in escrow until the completion of StoneX's proposed acquisition of R.J. O'Brien (RJO). Upon closing of the merger, the notes will be guaranteed by StoneX's subsidiaries and secured by second-priority liens on substantially all company and guarantor assets. The notes will pay interest semi-annually at a rate of 6.875% per annum.
StoneX Group (NASDAQ: SNEX) ha annunciato il prezzo di emissione di 625,0 milioni di dollari in obbligazioni senior garantite al 6,875% con scadenza nel 2032. Le obbligazioni saranno emesse tramite StoneX Escrow Issuer LLC e offerte privatamente a investitori istituzionali qualificati. La chiusura dell'offerta è prevista intorno al 8 luglio 2025.
I proventi saranno trattenuti in deposito a garanzia fino al completamento dell'acquisizione proposta da StoneX di R.J. O'Brien (RJO). Al momento della chiusura della fusione, le obbligazioni saranno garantite dalle filiali di StoneX e assicurate da privilegi di secondo grado su quasi tutti i beni della società e dei garanti. Le obbligazioni pagheranno interessi semestralmente a un tasso del 6,875% annuo.
StoneX Group (NASDAQ: SNEX) ha anunciado la fijación del precio de 625,0 millones de dólares en Notas Senior Garantizadas al 6,875% con vencimiento en 2032. Las notas serán emitidas a través de StoneX Escrow Issuer LLC y se ofrecen de forma privada a compradores institucionales calificados. Se espera que la oferta se cierre alrededor del 8 de julio de 2025.
Los ingresos se mantendrán en fideicomiso hasta la finalización de la propuesta de adquisición de StoneX de R.J. O'Brien (RJO). Al cierre de la fusión, las notas estarán garantizadas por las subsidiarias de StoneX y aseguradas con gravámenes de segundo grado sobre prácticamente todos los activos de la empresa y los garantes. Las notas pagarán intereses semestrales a una tasa del 6,875% anual.
StoneX Group (NASDAQ: SNEX)는 2032년 만기 6.875% 선순위 담보채권 6억 2,500만 달러의 가격을 발표했습니다. 이 채권은 StoneX Escrow Issuer LLC를 통해 발행되며, 자격을 갖춘 기관 투자자에게 비공개로 제공됩니다. 공모 마감은 2025년 7월 8일경으로 예상됩니다.
수익금은 StoneX가 제안한 R.J. O'Brien (RJO) 인수 완료 시까지 에스크로 계좌에 보관됩니다. 합병 완료 시, 채권은 StoneX 자회사의 보증을 받으며 회사 및 보증인 자산 대부분에 대해 2순위 담보권으로 담보됩니다. 채권은 연 6.875%의 이자율로 반기별 이자를 지급합니다.
StoneX Group (NASDAQ : SNEX) a annoncé le prix de 625,0 millions de dollars en obligations senior garanties à 6,875 % échéant en 2032. Les obligations seront émises par StoneX Escrow Issuer LLC et proposées en privé à des investisseurs institutionnels qualifiés. La clôture de l'offre est prévue aux alentours du 8 juillet 2025.
Les fonds seront détenus en séquestre jusqu'à la finalisation de l'acquisition proposée par StoneX de R.J. O'Brien (RJO). À la clôture de la fusion, les obligations seront garanties par les filiales de StoneX et sécurisées par des privilèges de second rang sur quasiment tous les actifs de la société et des garants. Les obligations porteront intérêt semestriellement à un taux de 6,875 % par an.
StoneX Group (NASDAQ: SNEX) hat die Preisfestsetzung von 625,0 Millionen US-Dollar in 6,875% Senior Secured Notes mit Fälligkeit 2032 bekanntgegeben. Die Notes werden über StoneX Escrow Issuer LLC ausgegeben und privat an qualifizierte institutionelle Käufer angeboten. Der Abschluss des Angebots wird für etwa 8. Juli 2025 erwartet.
Die Erlöse werden bis zum Abschluss der geplanten Übernahme von R.J. O'Brien (RJO) durch StoneX treuhänderisch verwahrt. Nach dem Abschluss der Fusion werden die Notes von den Tochtergesellschaften von StoneX garantiert und durch nachrangige Sicherungsrechte an nahezu allen Vermögenswerten des Unternehmens und der Garanten besichert. Die Notes zahlen halbjährlich Zinsen in Höhe von 6,875% p.a..
- Strategic acquisition of R.J. O'Brien will expand company's market presence
- Successful debt financing secured at 6.875% interest rate
- Notes will be fully guaranteed by company subsidiaries post-merger
- Additional debt burden of $625 million will increase leverage
- Second-priority liens subordinate to existing first lien obligations
- Interest payments of 6.875% will impact cash flow semi-annually
Insights
StoneX raises $625M through secured notes at 6.875% to fund R.J. O'Brien acquisition, increasing leverage while expanding market capabilities.
StoneX's $625 million senior secured notes offering reveals a significant debt-financed acquisition strategy. The 6.875% interest rate on these 7-year notes (maturing in 2032) positions this as a substantial long-term financial commitment, translating to approximately
The structured approach utilizing an escrow issuer (StoneX Escrow Issuer LLC) demonstrates prudent financial engineering – segregating proceeds until acquisition closing protects both the company and note purchasers from deal execution risk. This temporary entity will merge into StoneX upon transaction completion.
The second-lien position of these notes in the capital structure is particularly noteworthy. This subordination to the company's revolving credit facility and other senior secured obligations reflects a tiered capital approach that likely enabled more favorable overall financing terms, though it places these noteholders lower in the recovery hierarchy.
The private placement approach via Rule 144A allows StoneX to efficiently access institutional capital while avoiding some regulatory requirements of public offerings. This 6.875% coupon rate, with semi-annual payments, appears calibrated to attract qualified institutional buyers in the current interest rate environment while managing the company's cost of capital for this strategic expansion.
The acquisition of R.J. O'Brien, a futures commission merchant, signals StoneX's strategic direction toward expanding its market-making and clearing capabilities in commodities and derivatives markets, though the company must now execute effectively to ensure the financial benefits outweigh the increased leverage and interest burden.
NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the “Company” or “StoneX”; NASDAQ: SNEX), today announced the pricing of a previously announced offering of
StoneX Escrow Issuer LLC, which was created solely to issue the Notes in connection with the Merger (as defined below), will deposit the gross proceeds of the offering into a segregated escrow account (the “Escrowed Proceeds”) until the date that certain escrow release conditions are satisfied. Upon the closing of the Company’s proposed acquisition (the “Merger”) of R.J. O’Brien (“RJO”), StoneX Escrow Issuer LLC will merge with and into the Company, and the Escrowed Proceeds will be released. The Company will thereupon assume the obligations under the Notes. Upon the closing of the Merger and release of the Escrowed Proceeds, the Company intends to use the proceeds from the offering together with cash on hand to pay the purchase price and related fees, costs, premiums and expenses in connection with Merger.
Until the completion of the Merger, the Notes will not be guaranteed and will be secured only by a senior secured first priority lien on the Escrowed Proceeds. Upon the closing of the Merger, the Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured second lien basis by each of the Company's existing and future subsidiaries that guarantees indebtedness under the Company's senior secured revolving credit facility and certain other senior indebtedness. The guarantees are subject to release under specified circumstances. Upon the closing of the Merger, the Notes and the related guarantees will be secured on a second priority basis by liens on substantially all of the Company's and the guarantors' property and assets, subject to certain exceptions and permitted liens. The liens on the Company's and the guarantors' assets that secure the Notes and the related guarantees will be contractually subordinated to the liens on the Company's and the guarantors' assets that secure the Company's and the guarantors' existing and future first lien obligations, including indebtedness under the Company's senior secured revolving credit facility, as a result of an intercreditor agreement among the collateral agent for the Notes, the agent for the Company's senior secured revolving credit facility and the collateral agent for the Company’s existing senior secured notes due 2031. The Notes are expected to pay interest semi-annually, in arrears, at a rate of
The offer and sale of the Notes and related guarantees have not been, and will not be, registered under the Securities Act, or the securities laws of any other jurisdiction, and the Notes and related guarantees may not be offered or sold in the United States absent registration or applicable exemptions from registration requirements.
Cautionary Note Regarding Forward-Looking Statements
Statements in this release that are not historical facts are “forward-looking” statements and “safe harbor statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in StoneX’s public filings with the Securities and Exchange Commission. Forward-looking statements are based on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements about the benefits of the proposed acquisition of RJO, including expected synergies and future financial and operating results, the plans, objectives, expectations and intentions of StoneX after the acquisition, the expected timing to close the acquisition, closing of the offering and expected use of proceeds. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Therefore, we caution you against relying on any of these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the risks related to the proposed acquisition and the integration of RJO as well as the risks and other factors described in StoneX’s periodic reports filed with the Securities and Exchange Commission. In providing forward-looking statements, StoneX is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If StoneX updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
About StoneX Group Inc.
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents.
StoneX Group Inc.
Investor inquiries:
Kevin Murphy
(212) 403 – 7296
kevin.murphy@stonex.com
SNEX-G
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