Marex Group plc (NASDAQ:MRX) announced it received required consents from holders of its 6.404% Senior Notes due 2029 to approve indenture amendments.
The consent solicitation aimed to align terms of the 2029 notes with the company's 5.680% Senior Notes due 2031. A majority of noteholders delivered valid consents.
Marex shows strong operational momentum, with revenue growing 29% over the last twelve months to $3.27 billion.
Consenting bondholders will receive $1.00 per $1,000 principal amount. Payment is expected on Tuesday.
The amendments allow a Bermuda holding company to assume Marex's obligations under the notes. This aligns with the planned redomiciliation to Bermuda.
The redomiciliation requires shareholder, court and regulatory approvals.
Goldman Sachs & Co. LLC acted as solicitation agent, and Global Bondholder Services Corporation as information agent.
