MF Global plans $250 million offering of 10-year senior notes

By Andrea Heisinger

New York, Nov. 24 - MF Global Ltd. announced a $250 million offering of 10-year senior unsecured notes (Baa2/BBB) on Tuesday, according to a 424B5 filing with the Securities and Exchange Commission.

Pricing could not be confirmed at press time. A call to the bookrunner yielded a "no comment" in regard to whether the deal had priced or when it would price.

Other market sources said they hadn't seen it price.

The notes feature a change-of-control put of 101%.

J.P. Morgan Securities Inc. is running the books.

Proceeds will go to repay outstanding debt under a liquidity facility and for general corporate purposes.

The issuer provides execution and clearing for the cash and derivatives markets and is based in New York City.

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