INTL FCStone looks to sell $25-par notes due 2020; proceeds for general corporate purposes

By Stephanie N. Rotondo

Phoenix, July 11 - INTL FCStone Inc. is planning a sale of $25-par senior notes due July 30, 2020, according to a prospectus filed with the Securities and Exchange Commission on Thursday.

Sterne Agee & Leach, Inc. and Janney Montgomery Scott LLC are the joint bookrunning managers. Incapital and Maxim Group LLC are acting as co-managers.

INTL FCStone Securities is part of the selling group.

Interest payments are due on the 30th day of January, April, July and October, beginning Oct. 30. The company can redeem the notes on or after July 30, 2016 at par plus accrued interest.

Additionally, INTL FCStone will be required to repurchase the debt at 101% of par plus accrued interest in the event of a change of control.

The company has applied to list the notes on the Nasdaq Global Market under the ticker symbol "INTLL."

Proceeds will be used for general corporate purposes, which may include adding to working capital, the redemption or repurchase of outstanding debt and/or equity securities, the repayment of debt or business expansion via internal growth or acquisitions.

INTL FCStone is a New York-based brokerage business.

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