Virtu Financial completes prepayments totaling $100m on term loan

Maria Nikolova

The $100 million prepayment reduces the total balance of the term loan to $1.636 billion.

Virtu Financial Inc (NASDAQ:VIRT) announced today the completion of prepayments totaling $100 million in principal on its first lien senior secured term loan facility (“Term Loan”), which matures in March 2026.

The $100 million prepayment reduces the total balance of the Term Loan to $1.636 billion, bringing the total year to date prepayments to $288 million and cumulative prepayments since Virtu’s acquisition of Investment Technology Group, Inc. in March 2019 to $388 million.

In February 2020, Virtu announced repricing of its $1.925 billion senior secured first lien term loan. The Term Loan was repriced 50 basis points lower, at LIBOR plus 300 basis points, with Original Issue Discount of 99.875%.

The company said back in February that it had also entered into a five-year $1.0 billion floating to fixed interest rate swap agreement that would effectively fix its interest payment obligations on the incremental Term Loan financing at 4.40% through February 2025.

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