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Brief: Icap signs letter of intent to buy First Broker Securities

04 March 2002  |  940 views  |  0 Brief: Icap signs letter of intent to buy First Broker Securities

Inter-dealer broker Icap has signed a letter of intent to acquire First Broker Securities, a New York-based firm specialising in US dollar-denominated corporate debt and high yield bonds

Icap, which currently trades in non-corporate bonds, Eurobonds, Japanese government bonds, UK gilts and Australian government debt, says that discussions are ongoing and the transaction is subject to due dilligence. Financial details have not been disclosed.

Established in 1991, First Brokers Securities employs 100 staff.

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