NEW YORK, Nov. 1, 2010 (GLOBE NEWSWIRE) -- International Assets Holding Corporation (Nasdaq:IAAC) announced that it has completed a new three year, senior secured revolving credit facility (the "Credit Facility") in the amount of $75 million. This facility replaces two one-year bilateral loans of $60 million in aggregate and will be used to finance working capital needs of International Assets Holding Corporation and certain of its subsidiaries.
Sean O'Connor, CEO, said, "We are pleased with this new credit facility as it provides our group with increased financial resources and a longer tenor than the facilities it replaces."
Banc of America Securities LLC was the lead arranger and book manager of the Credit Facility and participants included Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., "Rabobank Nederland" New York Branch and Macquarie Bank Limited.
About International Assets Holding Corporation
International Assets Holding Corporation (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world.
Further information on INTL is available at www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including statements regarding the combined company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to International Assets Holding Corporation, are intended to identify forward-looking statements.
These forward-looking statements are based largely on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the combined company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by International Assets with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. International Assets undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.
CONTACT: International Assets Holding Corporation Bill Dunaway 866-522-7188 email@example.com