BGC Group enters $375 million restated revolver maturing in 2027

By Wendy Van Sickle

Columbus, Ohio, April 30 – BGC Group, Inc. entered an amended and restated $375 million revolving credit agreement on April 26 with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The facility size is the same as prior to the amendment, but accordion was increased to allow the company to expand the revolver to up to $475 million, up from $450 million previously.

The maturity date has been extended to April 26, 2027.

Borrowings bear interest at SOFR plus a margin ranging from 175 basis points to 200 bps depending on the company’s credit rating. The commitment fee ranges from 17.5 bps to 35 bps.

BofA Securities, Inc., Capital One, NA, Fifth Third Bank, NA, Industrial and Commercial Bank of China Ltd., New York Branch, M&T Bank, PNC Capital Markets, Regions Capital Markets and Wells Fargo Securities, LLC are the joint lead arrangers and bookrunners.

Capital One, Fifth Third, Industrial and Commercial Bank of China, PNC Bank, NA, Regions Bank and Wells Fargo Bank, NA are the syndication agents.

Goldman Sachs Bank USA and Santander are the documentation agents.

Borrowings may be used for working capital and general corporate purposes.

New York-based BGC is a financial services company.

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