Virtu Financial, Announces Proposed Opportunistic Private Offering of $500M of Senior First Lien Notes Due 2031 For Debt Repayment
Portfolio Pulse from Benzinga Newsdesk
Virtu Financial, Inc. (NASDAQ:VIRT) announced a proposed private offering of $500 million in senior first lien notes due 2031 to repay existing debt. The offering is subject to market conditions and will be used to repay the company's existing term loan facility. Concurrently, Virtu plans to amend its credit agreement to provide for a new $1,245 million term loan facility and increase its revolving credit facility to $300 million.
June 10, 2024 | 11:46 am
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Virtu Financial announced a $500 million private offering of senior first lien notes due 2031 to repay existing debt. Concurrently, it plans to amend its credit agreement to provide for a new $1,245 million term loan facility and increase its revolving credit facility to $300 million.
The announcement of a $500 million private offering to repay existing debt and the concurrent amendment of the credit agreement to secure new and increased credit facilities is likely to be viewed positively by investors. It indicates proactive financial management and potential for improved liquidity.
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