JMP Group LLC commenced an underwritten public offering of senior notes due 2029.
The firm intends to use the net proceeds for general corporate purposes and to redeem all of the outstanding 8.00% senior notes, due 2023, of its subsidiary, JMP Group Inc.
The underwriters have been granted a 30-day option to purchase additional senior notes to cover any overallotments.
UBS Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers. JMP Securities LLC and Wedbush Securities Inc. are acting as co-managers.
