DRW Holdings raises add-on term loan B amount to $312 million

By Sara Rosenberg

New York, Jan. 23 – DRW Holdings LLC upsized its fungible add-on term loan B due March 1, 2028 to $312 million from $250 million, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 375 basis points with a 0% floor, and the debt is being sold at an original issue discount of 99.03.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

BofA Securities Inc., Jefferies LLC and JPMorgan Chase Bank are the leads on the deal.

Recommitments were scheduled to be due at 2:30 p.m. ET on Tuesday, the source added.

Proceeds will be used for general corporate purposes, including expansion of trading capital.

Pro forma for the transaction, the term loan B will total $900 million.

DRW is a technology-driven electronic trading firm.

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