secwatch.observer — SEC 8-K summary
======================================

Issuer:     Virtu Financial, Inc. (VIRT)
CIK:        0001592386
Form:       8-K
Filed at:   2024-06-14T23:59:59+00:00
Accession:  0000950142-24-001619
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virtu prices $500M notes at 7.50% and new $1.245B term loan, expects $2M annual interest savings
--------------------------------------------------------------------------------

- $500M of 7.50% senior first lien notes due 2031 priced on June 11, 2024.
- New $1.245B term loan at SOFR+2.75% (down from prior +3.00%) and $300M revolver allocated June 13.
- Proceeds used to repay existing term loan due 2029; no material increase in total debt.
- Cash interest expense savings of approximately $2 million per annum expected.
- Transactions expected to close on or about June 21, 2024, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1592386/000095014224001619/0000950142-24-001619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1592386/000095014224001619/eh240494285_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-24-001619

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer