NEW YORK, July 29, 2014 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its wholly-owned subsidiary, INTL FCStone Securities Inc., acted as the exclusive financial adviser and lead arranger to South Street Securities Holdings Inc. in the placement of $16 million of new equity capital, $8 million of new debt capital, and the refinancing of $38 million of existing debt capital. The capital was invested in two related transactions. The first transaction for $57 million closed March 24th, 2014, and the second transaction for $5 million of new debt capital closed on July 23rd, 2014. The new equity strengthens South Street's ability to execute on its growth opportunities, and the refinanced debt evidences South Street's lenders' continuing confidence in the company's business model and management team.
South Street Securities LLC, a wholly owned subsidiary of South Street Securities Holdings Inc., is a FINRA member broker/dealer primarily focused on the financing of a matched book of U.S. Government and Agency Repurchase Agreements.
Jim Tabacchi, President and CEO of South Street Securities, said, "This new capital for the holding company and both new and refinanced debt at our broker dealer were key initiatives for the continuing growth of our brand and the service we provide our customers."
Steve Carlson, Head of Investment Banking at INTL FCStone Securities, Inc., said, "It is a privilege to continue to work together with Jim and South Street Securities as we help them grow. South Street Securities is an exceptional provider of repo financing, and we think they are uniquely positioned to succeed in this increasingly regulated market."
About South Street Securities Holdings Inc.
South Street Securities Holdings Inc., through its wholly-owned subsidiaries, is a leading provider of U.S. Treasury and Agency repo financing to banks, broker dealers and other capital market participants. The company is a broker-dealer and FICC member running a matched book portfolio that provides low cost financing for high-grade security positions and a source of secure short-term investment for its customers' excess funds. South Street Securities also provides other servicing, collateral management, technology, and administrative services for banks, broker dealers and other capital market participants. Further information is available at www.southstreetsecurities.com.
About INTL FCStone Securities Inc.
INTL FCStone Securities Inc. is the wholly-owned subsidiary of INTL FCStone Inc., which provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, power generation and real estate sectors. INTL FCStone Securities Inc. is a member of FINRA/SIPC/MSRB.
About INTL FCStone Inc.
INTL FCStone Inc., including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets. Its revenues are derived primarily from financial products and advisory services that fulfill clients' needs and provide bottom-line benefits to their businesses. INTL creates added value for clients by providing access to global financial markets using industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. INTL's client-first approach engenders trust, and has enabled INTL to establish leadership positions in a number of complex fields in financial markets around the world.
Further information on INTL FCStone is available at www.intlfcstone.com