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BGC Partners redeems debt

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BGC Partners redeems debt

BGC Partners Inc. completed the redemption of all of its 8.125% senior notes due 2042, having a principal amount of $112.5 million.

BGC Partners, as previously announced, loaned $112.5 million to unit Newmark Group Inc. at an annual interest rate of 6.5% on Sept. 4.

Newmark used the proceeds to repay an intercompany note owed to BGC Partners incurred in connection with the original issuance of the redeemed notes, while BGC Partners used the proceeds of the repayment to complete the note redemption.