Xp Inc. Stock Price, News & Analysis

XP, a leading financial platform in Brazil, announced on June 27, 2024, the pricing of a $500 million senior unsecured notes offering with a 6.750% interest rate, maturing in 2029. The notes, guaranteed by XP Investimentos, are expected to close on July 2, 2024, subject to customary conditions. Proceeds will be used to repurchase 3.250% senior notes due 2026 and for general corporate purposes. The offering is for qualified institutional buyers under Rule 144A and persons outside the US complying with Regulation S. The notes are not registered under the Securities Act, limiting US sales to exempt transactions.

XP, a tech-driven financial services platform in Brazil, announced the results and expiration of its cash tender offer for US$736.4 million of 3.250% Senior Unsecured Notes due 2026. The tender offer expired on June 26, 2024, with $303.67 million worth of notes tendered. The purchase price is $946 per $1,000 principal amount of notes, plus accrued interest. Settlement is expected by July 2, 2024. XP also launched a new notes offering to secure funds for the purchase. The tender offer's completion is conditional upon successful financing.

XP Inc. (Nasdaq: XP), a leading financial services platform in Brazil, announced the commencement of a cash tender offer for its outstanding 3.250% Senior Unsecured Notes due 2026, with a total principal amount of $736,435,000. The offer, expiring on June 26, 2024, allows noteholders to tender their notes for a purchase price of $946 per $1,000 principal amount plus accrued interest. The tender offer is contingent on a concurrent financing transaction involving new notes issued by XP, the proceeds of which will partially fund the purchase of tendered notes. Noteholders must meet specified conditions to participate, and the offer may be amended or terminated at XP's discretion.

For more details, visit XP Inc. Cash Tender Offer

XP (Nasdaq: XP) announced the approval of a share repurchase program by its board of directors. The program allows XP to repurchase up to R$1.0 billion (~$200M USD) of its Class A common shares from May 23, 2024, to December 31, 2024. Repurchases may be executed in the open market or through private negotiations, subject to market conditions. The program will be funded by existing cash reserves and may be periodically reviewed, adjusted, or discontinued by the board. XP has authorized management to appoint a broker to handle the repurchase, potentially utilizing SEC Rule 10b-18 and Rule 10b5-1 safe harbors. The timing and volume of repurchases will depend on factors like market conditions and alternative investments.

XP Inc. (NASDAQ: XP) has released its Q1 2024 financial results, showcasing significant growth in various metrics. Total client assets climbed 20% YoY to R$1.141 trillion, with net inflows reaching R$15 billion. Gross revenue saw a 28% YoY increase to R$4.27 billion, driven by a 22% rise in retail revenue and a notable 91% surge in corporate and issuer services. Net revenue grew 29% YoY to R$4.053 billion, while net income was up 29% YoY at R$1.03 billion. Despite a slight QoQ decline in certain areas, such as cards TPV and retail daily average trades, the company maintained strong growth in its credit portfolio, gross written premiums, and total advisors. Operational efficiencies were also highlighted with improvements in compensation and efficiency ratios.