January 16, 2015 Leucadia National Corporation and FXCM Announce $300 Million Financing to Permit FXCM to Continue Normal Operations NEW YORK--(BUSINESS WIRE)-- Leucadia National Corporation (NYSE: LUK) and FXCM (NYSE: FXCM) today announced that Leucadia would be providing $300 million in cash to FXCM and its subsidiaries (collectively "FXCM") that will permit FXCM to meet its regulatory-capital requirements and continue normal operations after yesterday's loss of $225 million due to the unprecedented actions of the Swiss National Bank. Under the terms of the agreements, Leucadia is investing $300 million in cash into FXCM in the form of a $300 million senior secured term loan with a two-year maturity and an initial coupon of 10%. The term loan obligations are guaranteed, on a secured basis, by certain of FXCM's domestic subsidiaries. In addition, Leucadia will receive, in the event of a sale of FXCM or its subsidiaries, a certain percentage of the sale proceeds and, in the event FXCM makes other distributions on account of its equity, a corresponding payment for its own account. This transaction is expected to close this afternoon. Drew Niv, Chief Executive Officer of FXCM, stated: "We could not be more grateful to Leucadia and its team for their rapid and effective response and to our regulators, who have been willing to work with us through this challenging process. Leucadia's support and this financing are by far the best alternative for FXCM, our customers, our shareholders, and all other relevant constituencies. We are pleased to continue to act as the leading online provider of foreign exchange trading and related services to retail and institutional customers worldwide." Click to see full press release: http://bit.ly/1ua85Ve
Baron SHAME ON YOU!!! This is one of your absolute lows I have seen you doing on your website. You cut all content of mine, facts supported by links to articles in public domain, not just by some blogger but articles by respected journalists at Reuters and Bloomberg. Instead you kiss butt just because you are paid a few dollars by a sponsor and let their shills tell newbies and beginners and small account holders (most of FXCM retail accounts are small in size relative to most other brokers) that their accounts are safe and that its all back to "Normal Operations"? Wow, did you actually read the misleading message Jason Rogers is putting out here? For heaven's sake FXCM dropped 90% in post-trade. Almost all of Jason's equity is wiped out as we speak. And so is the one of every other FXCM employee. This is absolutely shameful. Enough said.
Looks like FXCM is reverting back to "Normal Operations" only difference is at a $2.46 stockprice instead of $12.60 or so lol.