Oppenheimer Holdings to Redeem Senior Secured Notes Early

Oppenheimer Holdings ( (OPY) ) has issued an update.

Oppenheimer Holdings Inc. has announced its plan to fully redeem its 5.50% Senior Secured Notes due in 2025, on October 10, 2024, for the total principal amount of $113,050,000. This redemption, which will be performed at face value plus accrued interest, aims to relieve the company of the annualized interest expense of about $6.2 million. Following the redemption, no notes will remain outstanding, marking a strategic financial move for the company.

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