NEW
YORK, Sept. 19, 2024 /PRNewswire/ - Oppenheimer
Holdings Inc. (the "Company" or "Oppenheimer") today 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, plus
accrued and unpaid interest thereon to the Redemption Date. Upon
completion of the redemption, all of the Notes will be redeemed and
none will remain outstanding.
Albert G. Lowenthal, Chairman and
CEO of the Company stated "Oppenheimer's recent financial results
and strong balance sheet enable the Company to redeem its
outstanding public debt and reduce interest expense in a period of
high interest rates. The Company can and will raise additional
capital as necessary in the future to continue to grow its
business."
Company Information
Oppenheimer Holdings Inc., through its operating subsidiaries,
is a leading middle market investment bank and full service
broker-dealer that is engaged in a broad range of activities in the
financial services industry, including retail securities brokerage,
institutional sales and trading, investment banking (corporate and
public finance), equity and fixed income research, market-making,
trust services, and investment advisory and asset management
services. With roots tracing back to 1881, the Company is
headquartered in New York and has
88 retail branch offices in the United
States and institutional businesses located in London, Tel
Aviv, and Hong Kong.
Forward-Looking Statements
This press release includes certain "forward-looking statements"
relating to anticipated future performance. For a discussion of the
factors that could cause future performance to be different than
anticipated, reference is made to "Factors Affecting
'Forward-Looking Statements'" and "Part 1A – Risk Factors" in
Oppenheimer's Annual Report on Form 10-K for the year ended
December 31, 2023.
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SOURCE Oppenheimer Holdings Inc.