FXCM pays $54 million off its loan from Leucadia

FXCM Inc (NYSE:FXCM) has today announced that it has repaid an additional $54 million outstanding under its credit agreement with Leucadia. The payment was funded in part with proceeds from the sale of FXCM Japan. FXCM has now repaid $66 million under the credit agreement, and as of April 1, 2015, FXCM’s outstanding Leucadia loan balance is $244 million.

By repaying more than $60 million before April 16, 2015, FXCM has avoided a contingent financing fee of $30 million, and FXCM shareholders stand to benefit from an improved sharing determination of proceeds from future asset sales, dividends and distributions pursuant to the terms of the credit agreement.

“FXCM is pleased with how our debt reduction plan is proceeding,” said Drew Niv, CEO of FXCM. “We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell.”

FXCM anticipates making an additional repayment of approximately $12 million towards the credit facility in the coming weeks.

For the official announcement from FXCM, click here.

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FXCM pays $54 million off its loan from Leucadia


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