Subsidiaries of Virtu Financial closed their previously announced incremental $525 million senior secured first lien term loan.
The term loan bears interest at the same rate as its existing term loan, currently LIBOR plus 350 basis points, and will mature on March 1, 2026, the same date as the existing term loan. The company has also entered into a five-year $525 million floating to fixed interest rate swap agreement that effectively fixes its interest payment obligations on the term loan at 4.8% through September 2024.
