Virtu Financial launches $1.93 billion loan at Libor plus 300 bps

By Sara Rosenberg

New York, Feb. 4 – Virtu Financial LLC (VFH Parent LLC) was scheduled to hold a lender call at 2:30 p.m. ET on Tuesday to launch a $1,925,000,000 first-lien term loan (Ba3/B+/BB-) due March 2026 that is talked at Libor plus 300 basis points with no step-down, a 0% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Jefferies LLC is the bookrunner on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 350 bps with a 25 bps leverage-based step-down.

Commitments and consents are due at 3 p.m. ET on Friday, the source added.

Virtu is a New York-based financial services firm that leverages technology to deliver liquidity to the global markets and trading solutions to their clients.

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