JMP Group to redeem $48.3 million 7.25% notes due 2021 on Dec. 28

By Sarah Lizee

Olympia, Wash., Nov. 28 –JMP Group Inc. will redeem all its outstanding $48.3 million of 7.25% senior notes due 2021 on Dec. 28, according to a press release from parent company JMP Group LLC.

The notes are redeemable at par of $25 plus accrued interest up to but excluding the redemption date.

The company expects to fund the redemption using proceeds from its offering of 7.25% senior notes due 2027 that closed on Tuesday together with existing unrestricted cash.

U.S. Bank NA is the trustee.

JMP Group is a capital markets firm and asset manager based in San Francisco.

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