Marex Group plc announces $500 million public offering of senior notes due 2028, closing expected May 8, 2025.
Quiver AI Summary
Marex Group plc announced the pricing of a public offering of $500 million in Senior Notes with a fixed interest rate of 5.829%, set to mature in 2028. The offering, priced at 100% of the principal amount, is expected to close around May 8, 2025, pending standard closing conditions. The funds will be used for working capital, growth initiatives, and general corporate purposes. CEO Ian Lowitt highlighted strong investor interest and emphasized the issuance's role in diversifying funding sources and enhancing business liquidity. The offering is being managed by Barclays, Goldman Sachs, and Jefferies, and comes under Marex's existing shelf registration with the SEC.
Potential Positives
- Marex Group plc successfully priced a public offering of U.S.$500 million in Senior Notes, enhancing its financing capabilities.
- The financing will bolster Marex’s liquidity and support its continued growth and expansion.
- The offering demonstrated strong investor interest, reflecting confidence in Marex's business model and financial health.
- This issuance diversifies Marex's sources of funding, reducing reliance on any single financial avenue.
Potential Negatives
- The issuance of senior unsecured notes may indicate a reliance on debt financing, which can raise concerns about the company's debt levels and financial stability.
- The numerous risks and uncertainties highlighted, including geopolitical events and market volatility, could suggest potential vulnerability in Marex's business model and operations.
- The mention of material weaknesses in internal control over financial reporting raises concerns regarding the accuracy of financial statements and potential regulatory scrutiny.
FAQ
What is the purpose of Marex's recent public offering?
Marex's recent public offering aims to raise funds for working capital, support growth, and cover general corporate purposes.
How much is Marex raising through the senior notes offering?
Marex is raising U.S.$500 million through its offering of 5.829% Senior Notes due 2028.
When is the expected closing date for the offering?
The offering is expected to close on or about May 8, 2025, pending customary closing conditions.
Who are the underwriters for this offering?
The underwriters for the offering are Barclays, Goldman Sachs & Co. LLC, and Jefferies.
Where can I obtain more information about the offering?
More information about the offering can be found on the SEC’s website or by contacting the underwriters directly.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MRX Hedge Fund Activity
We have seen 85 institutional investors add shares of $MRX stock to their portfolio, and 28 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL INTERNATIONAL INVESTORS added 1,097,449 shares (+73.2%) to their portfolio in Q4 2024, for an estimated $34,207,485
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 1,067,136 shares (+74.2%) to their portfolio in Q4 2024, for an estimated $33,262,629
- GRANAHAN INVESTMENT MANAGEMENT, LLC added 957,492 shares (+77.6%) to their portfolio in Q4 2024, for an estimated $29,845,025
- JENNISON ASSOCIATES LLC added 948,374 shares (+85.0%) to their portfolio in Q4 2024, for an estimated $29,560,817
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 699,394 shares (+6123.2%) to their portfolio in Q4 2024, for an estimated $21,800,110
- MORGAN STANLEY added 507,234 shares (+100.7%) to their portfolio in Q4 2024, for an estimated $15,810,483
- TWO SIGMA ADVISERS, LP added 395,900 shares (+1324.1%) to their portfolio in Q4 2024, for an estimated $12,340,203
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$MRX Analyst Ratings
Wall Street analysts have issued reports on $MRX in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Overweight" rating on 01/13/2025
- Piper Sandler issued a "Overweight" rating on 01/07/2025
To track analyst ratings and price targets for $MRX, check out Quiver Quantitative's $MRX forecast page.
$MRX Price Targets
Multiple analysts have issued price targets for $MRX recently. We have seen 2 analysts offer price targets for $MRX in the last 6 months, with a median target of $37.5.
Here are some recent targets:
- An analyst from UBS set a target price of $36.0 on 03/10/2025
- Benjamin Budish from Barclays set a target price of $39.0 on 01/13/2025
Full Release
NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) -- Marex Group plc (Nasdaq: MRX) (“Marex”), the diversified global financial services platform, announced the pricing on May 1, 2025 of a public offering (the “Offering”) of U.S.$500 million aggregate principal amount of its 5.829% Senior Notes due 2028 (the “Notes”). The Notes will be issued at a price to the public equal to 100.000% of the principal amount thereof and will be senior unsecured obligations of Marex.
The Offering is expected to close on or about May 8, 2025, subject to the satisfaction of customary closing conditions. Marex intends to use the net proceeds from the Offering for working capital, to fund incremental growth and for other general corporate purposes.
Ian Lowitt, CEO of Marex, commented:
“This successful debt issuance further diversifies our sources of funding and enables the continued expansion of our business, bolstering our liquidity so we can support our clients. We are pleased to have seen very strong investor interest for these notes, demonstrating continued confidence in our client-driven business model, prudent approach to capital and our liquidity profile.”
Barclays, Goldman Sachs & Co. LLC and Jefferies are acting as joint book-runners for the Offering.
The Offering is being made pursuant to Marex’s existing effective shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the “SEC”). The Offering will be made only by means of a preliminary prospectus supplement and its accompanying base prospectus. You may obtain copies of these documents for free by visiting the SEC’s website at www.sec.gov or by calling Barclays Capital Inc. toll-free at (888) 603-5847, Goldman Sachs & Co. LLC toll-free at (866) 471-2526 or Jefferies LLC toll-free at (877) 877-0696.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including the expected closing date of the Offering. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: subdued commodity market activity or pricing levels; the effects of geopolitical events, terrorism and wars, such as the effect of Russia’s military action in Ukraine or the on-going conflicts in the Middle East, on market volatility, global macroeconomic conditions and commodity prices; changes in interest rate levels; the risk of our clients and their related financial institutions defaulting on their obligations to us; regulatory, reputational and financial risks as a result of our international operations; software or systems failure, loss or disruption of data or data security failures; an inability to adequately hedge our positions and limitations on our ability to modify contracts and the contractual protections that may be available to us in OTC derivatives transactions; market volatility, reputational risk and regulatory uncertainty related to commodity markets, equities, fixed income, foreign exchange; the impact of climate change and the transition to a lower carbon economy on supply chains and the size of the market for certain of our energy products; the impact of changes in judgments, estimates and assumptions made by management in the application of our accounting policies on our reported financial condition and results of operations; lack of sufficient financial liquidity; if we fail to comply with applicable law and regulation, we may be subject to enforcement or other action, forced to cease providing certain services or obliged to change the scope or nature of our operations; significant costs, including adverse impacts on our business, financial condition and results of operations, and expenses associated with compliance with relevant regulations; and if we fail to remediate the material weaknesses we identified in our internal control over financial reporting or prevent the occurrence of material weaknesses in the future, the accuracy and timing of our financial statements may be impacted, which could result in material misstatements in our financial statements or failure to meet our reporting obligations and subject us to potential delisting, regulatory investments or civil or criminal sanctions, and other risks discussed under the caption “Risk Factors” in our preliminary prospectus supplement for the Offering and its accompanying base prospectus filed with the SEC, and our other reports filed with the SEC.
The forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Enquiries please contact:
Marex:
Nicola Ratchford / Adam Strachan
+44 778 654 8889 / +1 914 200 2508 | [email protected]/ [email protected]
FTI Consulting US / UK
+1 (919) 609-9423 / +44 (0) 7776 111 222 |
[email protected]