LTS’s $57.5 Million Notes Offering

May 30, 2019

Cleary Gottlieb was counsel to the underwriters, led by UBS Securities LLC, in a notes offering by Ladenburg Thalmann Financial Services Inc. (LTS).

LTS issued $57.5 million of 7.75% senior notes due 2029. The offering was made pursuant to the company’s existing shelf registration statement on form S-3 previously filed with, and declared effective by, the Securities and Exchange Commission. The transaction launched and priced on May 21, 2019, and closed on May 29, 2019.

LTS is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, asset management services, and trust services. It is one of the top 10 independent broker-dealers by client assets and revenues.