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Ladenburg Thalmann closes debt offering

Ladenburg Thalmann Financial Services Inc. completed its public offering of $40 million of its 7.00% senior notes due 2028.

The company granted the underwriters a 30-day option to buy up to an additional $6 million of notes to cover any overallotment.

The offering resulted in net proceeds of about $38.4 million after deducting underwriting discounts and commissions, but before expenses.

The company intends to use the net proceeds for general corporate purposes.

Ladenburg Thalmann & Co. Inc. acted as sole book-running manager for the offering. BB&T Capital Markets, Incapital LLC and Barrington Research Associates Inc. acted as co-managers.