Breaking: FXCM and Leucadia Sign MOU, Extending Their Partnership to 2018
Posted: Wed Mar 09, 2016 10:02 pm
FXCM Inc. (NYSE:FXCM) and Leucadia National Corporation (NYSE:LUK) have entered into a memorandum of understanding (MOU) to alter the terms of their Amended and Restated Credit Agreement as well as their Amended and Restated Letter Agreement dating back to last January, according to an FXCM statement.
The original agreement stemmed back to January 2015, when the Swiss National Bank’s (SNB) snap decision left FXCM obtaining nearly $300 million in financing from Leucadia in a bid to keep the broker in business. Since then, FXCM has been selling non-core assets to cover the debt and is emerging as a retail focused FX ... (read more)