debt
confidence high
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materiality 0.55
Virtu reprices $1.245B term loans via Amendment No. 2, establishes new B-2 tranche due 2031
Virtu Financial, Inc.
- New $1,245M senior secured first lien term B-2 loans replace existing B-1 loans on February 19, 2025.
- Interest rate options: term SOFR + 2.50% or prime rate + 1.50%, at Virtu's election.
- New Term Loans mature June 21, 2031, with annual amortization of 1% of original principal.
- Proceeds from New Term Loans used to fully repay the outstanding Existing Term Loans.
- Amendment also modifies certain covenants and terms in the existing Credit Agreement.