Cowen’s 8.25% $25-par seven-year notes list on Nasdaq

By Stephanie N. Rotondo

Phoenix, Oct. 30 – Cowen Group Inc.’s $63.25 million of 8.25% $25-par senior notes due Oct. 15, 2021 listed on the Nasdaq exchange on Thursday, according to a market source.

The deal priced for $55 million on Oct. 3, and the $8.25 million greenshoe was exercised Oct. 10. The ticker symbol is “COWNL.”

Sterne, Agee & Leach, Inc., Janney Montgomery Scott LLC and Cowen and Co. LLC were the joint bookrunners. Co-managers were Wunderlich Securities Inc., Incapital LLC, JMP Securities LLC and Ladenburg Thalmann & Co. Inc.

Proceeds will be used to capitalize a new commercial finance company being formed by Cowen that would structure, underwrite and syndicate a broad range of loans to middle market commercial borrowers. Remaining proceeds will be used for general corporate purposes.

Cowen Group is a New York-based financial services firm.

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