Podcast Center
Video Center
Webcasts
Resource Center
Events
April 05, 2011 at 09:03 AM
Raymond James Financial said Monday that its public offering of $250 million senior notes was priced at roughly 99.8% of principal.
The 4.25% senior notes are due in 2016, and Raymond James will pay interest on them each year on April 15 and Oct. 15, starting this fall.
The company, which has some 5,300 financial advisors, expects to use the proceeds from the offering – which should close on April 11 — for working capital and general corporate purposes.
“This offering will support a number of potential initiatives and further enhance our liquidity position as we execute growth strategies in each of our core businesses,” said CEO Paul Reilly (left) in a press release on Monday. “We learned in 2008 that external credit sources are not always reliable.”
Recently, Raymond James said its advisors boosted their year-over-year monthly results — or fees and commissions — by more than 20% in February.
