Oppenheimer Holdings Inc.
09/19/2024 | Press release | Distributed by Public on 09/19/2024 07:07
Termination of Material Agreement Form 8 K
Item 1.02 - Termination of a Material Definitive Agreement.
On September 19, 2024, Oppenheimer Holdings Inc. (the "Company" or "Oppenheimer") announced that it has delivered to the holders of its 5.50% Senior Secured Notes due 2025 (the "Notes"), a notice of redemption, notifying such holders of the Company's intent to redeem on October 10, 2024 (the "Redemption Date") $113,050,000 aggregate principal amount of the outstanding Notes at a redemption price equal to 100.00% of the principal amount of the Notes to be redeemed (with no pre-payment penalty or premium), plus accrued and unpaid interest thereon to the Redemption Date. The redemption will be conducted in accordance with the terms and provisions of the Indenture, dated as of September 22, 2020, between the Company and The Bank of New York Mellon Trust Company, N.A. as Trustee. Upon completion of the redemption on the Redemption Date, all of the Notes will be redeemed and none will remain outstanding. Subsequent to the redemption, the Company will no longer incur interest expense on the Notes (annualized interest of approximately $6.2 million).
See the Company's press release attached hereto as an exhibit for additional details concerning its Notes Redemption.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS