Citadel increases term loan B amount to $3 billion

By Sara Rosenberg

New York, Jan. 27 – Citadel upsized its seven-year term loan B to $3 billion from $2.5 billion, according to a market source.

Pricing on the term loan remained at Libor plus 250 basis points with a 0% Libor floor and an original issue discount of 99.875.

The term loan has 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used for general corporate purposes and to refinance existing debt.

Citadel is a Chicago-based provider of market-making services to the fixed income, currency and commodity markets.

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