New Issue-Penson Worldwide sells $200 mln in notes

Thu Apr 29, 2010 3:16pm EDT

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  April 29 (Reuters) - Penson Worldwide Inc PNSN.N on
Thursday sold $200 million of senior secured second lien notes
in the 144a private placement market, said IFR, a Thomson
Reuters service.
  JP Morgan and UBS were the joint bookrunning managers for
the sale.
BORROWER: PENSON WORLDWIDE INC
AMT $200 MLN      COUPON 12.50 PC T   MATURITY 5/15/2017 
TYPE SR NOTES     ISS PRICE 100.00    FIRST PAY 11/15/2010
MOODY'S B1        YIELD 12.50 PCT     SETTLEMENT 5/6/2010
S&P BB-MINUS      SPREAD 929 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 4 YRS*
*MAKE-WHOLE CALL 50 BPS

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