Marex Group plc Announces Closing of $500 Million Perpetual Subordinated Notes Offering

Marex Group plc has announced the successful completion of its offering of U.S.$500 million in perpetual subordinated resettable fixed rate notes. The net proceeds from this offering are intended for general corporate purposes, including the potential purchase of outstanding notes and funding acquisitions. The company highlighted that the new notes are expected to receive 100% equity credit from S&P post-Bermuda redomiciliation. The offering achieved a significantly lower pricing of 7.7% compared to a previous issuance at 13.25%, which the company attributes to its progress and the strength of its investment proposition, as well as the structuring benefits from its proposed redomiciliation to Bermuda. The offering saw strong oversubscription and broad participation from both existing and new investors, reflecting confidence in Marex's continued growth. Barclays Bank PLC, Goldman Sachs International, and Jefferies International Limited acted as Joint Bookrunners. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold within the United States to U.S. persons. The press release also includes forward-looking statements subject to various risks and uncertainties.