OPPENHEIMER HOLDINGS INC. ANNOUNCES REDEMPTION OF $113 MILLION OF 5.50% SENIOR SECURED NOTES DUE 2025

NEW YORK, Sept. 19, 2024 /CNW/ - 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.

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