GAIN Capital Holdings, Inc. Announces Termination of a Material Definitive Agreement
January 08, 2020 at 04:01 pm EST
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On January 2, 2020, GAIN Capital Holdings, Inc. delivered written notice to Barclays Bank PLC to terminate that certain Credit Agreement, dated August 2, 2017 (the “Credit Agreement”), among the Company as borrower, Barclays, as administrative agent, collateral agent, arranger and documentation agent, Sterling National Bank as joint bookrunner, and the other lenders party thereto. The Credit Agreement provided for a $50,000,000 senior secured first lien revolving credit facility to be made available upon the terms and conditions set forth therein. While the Company is in compliance with the various covenants contained in the Credit Agreement, due to the terms of the financial covenants contained therein, it is not currently permitted to draw under the facility. In light of the foregoing, coupled with the Company’s lack of significant utilization of the facility and the upcoming expiration of the facility under its terms in August 2020, the Company has determined for prudent cost management reasons to terminate the facility at this time.
GAIN Capital Holdings, Inc. (GAIN) provides active traders and institutions with liquidity, technology and service to trade global markets. The Company is a provider of trading services and solutions, specializing in over-the-counter (OTC) and exchange-traded markets. The Company's segments include Retail and Futures. Through its retail segment, the Company provides its retail customers across the world with access to a range of global financial markets, including spot forex, precious metals, spread bets and contracts for difference (CFDs) on commodities, indices, individual equities and interest rate products, as well OTC options on forex. Its futures segment offers execution and risk management services for exchange-traded futures and futures options on the United States and European exchanges.
GAIN CAPITAL HOLDINGS, INC. 
