Virtu Seeks to Reprice KCG Deal’s Outstanding Loan, Prepays Additional $74M

[kreslik.news]

U.S. electronic market maker Virtu Financial Inc., which acquired KCG Holdings in a landmark deal last year, is seeking to reprice its existing senior secured term loan.

In addition, Virtu said it intends to prepay an additional $74 million in principal of its 1st Lien Senior Secured Term Loan Facility, which downsizes the loan’s outstanding balance to $400 million from its original amount $1,150 million.

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In 2017, Virtu Financial acquired rival KCG Holdings Inc. for $1.4 billion in cash as tough market conditions forced high-frequency traders to consolidate and ... (read more)