Oppenheimer Holdings Inc. Announces Retirement of $50 million of 8.75% Senior Secured Notes Due 2018

Oppenheimer Holdings Inc. Announces Retirement of $50 million of 8.75% Senior
                            Secured Notes Due 2018

PR Newswire

NEW YORK, March 14, 2014

NEW YORK, March 14, 2014 /PRNewswire/ - Oppenheimer Holdings Inc. (the
"Company") announced that it will be retiring a total of $50 million (25%) of
its 8.75% Senior Secured Notes due 2018 (the "Notes"). The Company will
deliver to the holders of the Notes a notice of partial redemption, notifying
such holders of the Company's intent to redeem on April 15, 2014 (the
"Redemption Date") $45 million aggregate principal amount of the outstanding
Notes at a redemption price equal to 106.563% of the principal amount of the
Notes to be redeemed, plus accrued and unpaid interest thereon to the
Redemption Date. In addition, the Company will also be retiring the $5 million
aggregate principal amount of the Notes that it currently holds. Upon
completion of the redemption and retirement on the Redemption Date, $150
million aggregate principal amount of the Notes will remain outstanding.The
retirement of the Notes will reduce the Company's interest costs by $3.9
million annually.

In connection with the announced retirement, Albert G. Lowenthal, Chairman and
CEO, commented, "We are pleased to be able to reduce the principal amount of
this high cost debt by 25% which will, of course, also reduce Oppenheimer's
leverage.We look forward to continuing this process as our profitability
improves."

Company Information

Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading
middle market investment bank and full service broker-dealer that provides a
wide range of financial services including retail securities brokerage,
institutional sales and trading, investment banking (both corporate and public
finance), research, market-making, trust, investment management, and
commercial mortgage banking. With roots tracing back to 1881, the firm is
headquartered in New York and has 96 offices in 25 states and 5 foreign
jurisdictions.

Forward-Looking Statements

This press release includes certain "forward-looking statements" relating to
anticipated future performance.For a discussion of the factors that could
cause future performance to be different than anticipated, reference is made
to Factors Affecting "Forward-Looking Statements" and Part 1A - Risk Factors
in the Company's Annual Report on Form 10-K for the year ended December 31,
2013.

SOURCE Oppenheimer Holdings Inc.

Contact:

Jeffrey Alfano
212-825-4331
 
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