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Virtu Financial to launch $320 million term loan on Wednesday
By Sara Rosenberg
New York, June 13 - Virtu Financial Inc. is set to hold a bank meeting on Wednesday to launch a proposed $320 million term loan, according to a market source.
Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch and Barclays Capital Inc. are the joint lead arrangers and bookrunners on the deal.
Proceeds will be used to help fund the company's merger with Madison Tyler Holdings LLC.
And in connection with the merger, Virtu will receive a strategic growth investment from Silver Lake.
Virtu is a New York-based electronic market maker and financial technology developer. Madison Tyler is a Los Angeles-based market maker and electronic trading firm.
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