Virtu completes incremental $525 million term loan

Virtu Financial

Virtu Financial, Inc. (NASDAQ:VIRT) has announced that its subsidiaries have just closed their incremental $525 million senior secured first lien term loan.

Virtu is a provider of financial services and products that leverages technology to deliver liquidity to the global markets and provide execution services and data, analytics and connectivity products.

The Term Loan bears interest at the same rate as our existing term loan, currently LIBOR plus 350 basis points, and will mature on March 1, 2026, the same date as Virtu’s existing term loan.

Virtu has also entered into a five-year $525 million floating to fixed interest rate swap agreement that effectively fixes our interest payment obligations on the Term Loan at 4.8% through September 2024.

The proceeds of the Term Loan have been used to redeem the 6.75% senior secured second lien notes due 2022 of VFH Parent LLC and Orchestra Co-Issuer, Inc. at 103.375% of the principal amount of the Existing Notes, as well as accrued and unpaid interest to the redemption date.


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