By William Gullotti
Buffalo, N.Y., Jan. 3 – South Street Securities Funding, LLC, a wholly owned subsidiary of South Street Securities Holdings, Inc., announced it completed a private placement of about $90 million five-year senior notes (Kroll: BBB-), according to a press release on Monday.
Piper Sandler & Co. was the lead manager for the offering with AmeriVet Securities, Inc. as co-manager.
Proceeds from the notes will be used to refinance existing det and provide expansion capital to the issuer’s broker-dealer subsidiary.
New York-based South Street Securities Funding specializes in fixed-income repo, mortgage finance and equity finance solutions. South Street Securities Holdings is an independent provider of specialized financing, capital markets services and capital markets technology solutions.
| Issuer: | South Street Securities Funding, LLC
|
| Issue: | Senior notes
|
| Amount: | $90 million
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| Tenor: | Five years
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| Managers: | Piper Sandler & Co., AmeriVet Securities, Inc.
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| Counsel to issuer: | Bryan Cave Leighton Paisner LLP
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| Counsel to investor: | Seward & Kissel LLP
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| Rating: | Kroll: BBB-
|
| Distribution: | Private placement
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