INTL FCStone Inc. Expands Syndicated Loan Facility
NEW YORK--(Korea Newswire) May 25, 2012 -- INTL FCStone Inc. (Nasdaq:INTL), today announced that The Korea Development Bank, New York Branch, has committed $10 million to increase an existing syndicated loan to the company.
The entry of The Korea Development Bank into the syndicate was arranged by INTL Provident Group USA, the investment banking division of INTL FCStone‘s wholly owned subsidiary INTL Trading, Inc., and increases the amount available under this facility from $85 million to $95 million. The loan proceeds will continue to finance INTL FCStone’s working capital requirements.
Sean O'Connor, CEO of INTL FCStone, said, “We are very pleased to welcome our first Asia-based lending partner, Korea Development Bank into this facility and believe this opens an excellent opportunity for the bank, our company and our customers.”
This facility was originally arranged by Bank of America Securities, LLC and other lenders including Bank of America, N.A., Rabobank Nederland, New York Branch, Capital One, N.A. and Macquarie Bank Limited.
About INTL FCStone Inc.
INTL FCStone Inc. (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 commercial customers in more than 100 countries through a network of offices in twelve countries around the world.
Further information on INTL is available at www.intlfcstone.com.
About INTL Provident Group USA
INTL Provident Group USA services middle market firms worldwide, with a sector focus in natural resources, agriculture, financial institutions, power generation and real estate. Their team of professionals offers a range of services including capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory. INTL Provident Group USA is a DBA for INTL Trading, Inc. Member FINRA/SIPC.
Forward Looking Statements
This press release includes forward-looking statements including statements regarding the combined company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to INTL FCStone Inc., are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by INTL FCStone Inc. with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. INTL FCStone Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.
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