Orrick Advises JMP Group on $50 Million Senior Notes Offering and Debt Refinancing


Orrick represented JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, on the issuance by its wholly owned subsidiary, JMP Group Inc., of $50 million aggregate principal amount of 7.25% Senior Notes due 2027 (the “Notes”) in an underwritten public offering. The participating underwriters included UBS Investment Bank, Morgan Stanley, JMP Securities and Barrington Research.

The offering closed on November 28, 2017, and the Notes began trading on the New York Stock Exchange on November 30, 2017, under the symbol “JMPD.” A portion of the net proceeds from the offering are expected to be used to redeem all of JMP Group Inc.’s outstanding 7.25% Senior Notes due 2021. Orrick previously advised JMP Group on its reorganization as a publicly traded partnership in 2015 and on the issuance of JMP Group Inc.’s 7.25% Senior Notes due 2021 in 2014.

The Orrick team that advised JMP Group on the Notes offering was led by capital markets partner Andrew Thorpe and included Kenneth Marx, Melissa Frayer, Angelo Aratan, John Narducci and James Larkin.