US Forex broker FXCM announces a credit line of $75 million from Bank of America (BAC). This credit line could be doubled in the future, and will enable the company to expand its operations and perform further mergers and acquisitions.
FXCM already had some M&A action following its IPO around a year ago and continues growing in terms of tradeable accounts and also other parameters.
Here are more details about this move:
FXCM Inc. Announces $75 Million Credit Facility
NEW YORK, December 20, 2011 FXCM Inc. (NYSE: FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today announced that FXCM Holdings LLC has entered into a three year revolving credit facility with Bank of America, N.A., as Administrative Agent and several lenders from time to time parties thereto. The credit agreement provides for a $75 million revolving credit facility that may be increased during its three year term by up to $75 million for a total of up to $150 million.
“We are pleased to announce the credit facility which will provide us the increased liquidity and financial flexibility that will allow us to continue to grow our business both organically and through acquisitions.” said Drew Niv, Chief Executive of FXCM.
Share
