NEW YORK, Dec. 26, 2012 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its wholly owned subsidiary, INTL FCStone Securities Inc. (member FINRA/SIPC), arranged US$35 million in Junior Notes for South Street Securities Funding LLC, parent company to South Street Securities LLC.
South Street Securities is a leading provider of U.S. Treasury and Agency repo financing to the financial industry running a multi-billion dollar matched-book portfolio.
Jim Tabacchi, President and CEO of South Street Securities, said, "the South Street team is pleased with the additional opportunity this fresh capital brings as we enter into 2013 and beyond." The new capital allows South Street Securities to expand the services it provides its customers and strengthens the company's position as it continues to provide financing services to regional banks and dealers, municipal governments, pension funds and other financial institutions.Steve Carlson, CEO of the Investment Banking Division of INTL FCStone Securities, Inc., said, "it has been a privilege working with Jim and South Street Securities. South Street Securities is a stand out performer in the financial services space, a completely unique repo-only financing vehicle." About South Street Securities LLC South Street Securities LLC is a leading provider of U.S. Treasury and Agency repo financing to banks, broker dealers and other capital market participants. The company is an S&P rated broker-dealer (AA+ long term, A-1+ short-term) and FICC member running a matched book portfolio that provides low cost financing for high-grade security positions and a source of secure short-term investment for excess funds. South Street Securities also provides other servicing, collateral management, technology, and administrative services for banks, broker dealers and other capital market participants. Further information is available at www.southstreetsecurities.com. About INTL FCStone Securities Inc. INTL FCStone Securities Inc. provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, power generation and real estate sectors. INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly-owned subsidiary of INTL FCStone Inc. (Nasdaq:INTL).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV