By Cristal Cody
Tupelo, Miss., Nov. 20 – JMP Group Inc. priced $50 million of 7.25% $25-par 10-year senior notes (Egan-Jones: BBB) on Monday, according to a news release and an FWP filing with the Securities and Exchange Commission.
UBS Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The issue is unconditionally guaranteed by parent companies JMP Group LLC and JMP Investment Holdings LLC.
The company plans to list the notes on the New York Stock Exchange for trading within 30 days of issuance.
Proceeds will be used to redeem some or all of the company’s outstanding 7.25% senior notes or 8% senior notes or both and for general corporate purposes.
JMP Group is a capital markets firm and asset manager based in San Francisco.
| Issuer: | JMP Group Inc.
|
| Guarantors: | JMP Group LLC and JMP Investment Holdings LLC
|
| Amount: | $50 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2027
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| Bookrunners: | UBS Securities LLC and Morgan Stanley & Co. LLC
|
| Co-managers: | JMP Securities LLC and Barrington Research Associates, Inc.
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| Coupon: | 7.25%
|
| Price: | $25.00 per note
|
| Call features: | On or after Nov. 28, 2020 at par
|
| Trade date: | Nov. 20
|
| Settlement date: | Nov. 28
|
| Rating: | Egan-Jones: BBB
|
| Distribution: | SEC registered
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