Getco kicks off $305 million five-year secured notes offering

By Paul A. Harris

Portland, Ore., May 13 - Bonds backing the merger of Getco with Knight Capital Group Inc. came into the market on Monday, according to an informed source.

The $305 million offering of five-year senior secured notes is expected to price during the May 20 week.

Jefferies & Co. and Goldman Sachs & Co. are the joint bookrunners. Pierpont Securities is the co-manager.

The Rule 144A and Regulation S with registration rights notes become callable in two years at par plus 75% of the coupon.

Proceeds, together with a new credit facility, will be used to refinance debt and finance the merger between Knight Capital and Getco.

The issuing entity is Getco Financing Escrow LLC, which is to be assumed by KCG Holding, Inc.

Getco is a Chicago-based buyer and seller of securities. Knight Capital is a Jersey City, N.J.-based financial services firm.

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