Virtu Financial announces $1.8B term loan due 2029 to refinance debt, fund buybacks

Virtu Financial, Inc.

Virtu commenced marketing a $1.8B senior secured first lien term loan due 2029, replacing existing $1.6B loan due 2026.
Proceeds will refinance existing term loan, fund share repurchases, and for general corporate purposes.
New $250M revolving credit facility due 2025 committed, replacing existing $50M revolver.
LTM adjusted EBITDA of $1.317B as of Sep 30, 2021; pro forma total leverage 1.4x, net leverage 0.9x.
Commitments due from lenders by January 11, 2022 at 5pm NYT.

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