FXCM informed on Thursday about its repayment of additional $54 million outstanding under its credit deal with Leucadia and for now it has already repaid $66 million under the credit agreement, and as of April 1, 2015, FXCM’s outstanding Leucadia loan balance is $244 million. The payment was partially funded with proceeds from the sale of FXCM Japan.

Thus FXCM prevented itself from facing contingent financing fee of $30 million as one of the conditions were repayment of $60 million before April 16, 2015, and FXCM shareholders stand to benefit from an improved sharing determination of proceeds from future asset sales, dividends and distributions pursuant to the terms of the credit deal. The company expects an additional repayment of around $12 million towards the credit facility in the coming weeks.

“FXCM is pleased with how our debt reduction plan is proceeding,” said Drew Niv, CEO of FXCM. “We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell.”

For any questions of recommendation, feel free to write us on hello@goforex.eu
You can meet us at Forex Expo in Bratislava, in May 20-21, 2015