GFI to use senior notes proceeds to redeem notes due 2013, repay loan

By Toni Weeks

San Diego, July 13 - GFI Group Inc. intends to use the net proceeds from its planned offering of senior notes to redeem all of its existing senior secured notes due Jan. 30, 2013, to repay all outstanding amounts under its existing credit agreement and to pay all related premiums, interest and transaction expenses, according to a press release.

The senior notes offering is expected to close the week of July 18.

New York-based GFI provides wholesale brokerage services, clearing services, electronic execution and trading support products for global financial markets.

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