Successful €300 million inaugural public senior bond issuanceFebruary 2, 2023
Marex Group announces that it has successfully completed its inaugural public senior bond issuance, raising €300 million. The bonds have an annual coupon of 8.375% and has been rated BBB- by both S&P and Fitch.
Marex has a strong track-record of executing on its strategy to generate sustainable growth, by expanding its geographic reach and product offering, in order to better serve existing and new clients across the world, which has delivered consistent double-digit Operating PBT growth since 2014.
A prudent approach to capital and liquidity and commitment to maintaining an investment grade credit rating are core principles which underpin the successful delivery of growth strategy. This bond issuance further strengthens the Group’s liquidity position, diversifies its funding sources, and extends its debt maturity profile.
Ian Lowitt, CEO of Marex Group, commented:
“We are delighted to have successfully executed our inaugural senior bond issuance. This additional liquidity positions us well for the next stage of our development, having completed the acquisition of ED&F Man Capital Markets operations in UK, US, Middle East, and Australia. The oversubscription of the issuance reflects the confidence that investors have in our business and its growth trajectory. This is an exciting time for Marex, and I am confident that we can continue to deliver sustainable growth in the years to come.”
Marex was supported on the transaction by Goldman Sachs International and HSBC as joint bookrunners.