Virtu Financial Completes Term Loan Repricing and Prepayment
January 08 2018 - 8:00AM
Virtu Financial, Inc. (NASDAQ:VIRT) (the “Company”), a leading
technology-enabled market maker and liquidity provider to the
global financial markets, today announced the completion of a
repricing transaction of its 1st Lien Senior Secured Term Loan
along with a principal prepayment of $276 from the proceeds of its
previously announced sale of BondPoint to Intercontinental Exchange
(NASDAQ:ICE).
Following the prepayment and the amendment, the total balance of
the Company’s senior secured term loan will be reduced to $624
million, which reflects cumulative total prepayments of $526
million since the Company’s acquisition of KCG Holdings, Inc. on
July 20, 2017. The repriced term loan will bear interest at
LIBOR + 325 bps, reflecting a reduction of 50 bps compared to its
prior rate.
“The sale of BondPoint and the term loan prepayment and
repricing are consistent with our previously stated objectives of
reducing leverage and focusing on our core businesses,” said Virtu
CEO Douglas A. Cifu. “These transactions improve our capital
structure following the KCG merger while enhancing our operational
flexibility.”
About Virtu
Virtu is a leading financial firm that leverages cutting edge
technology to deliver liquidity to the global markets and
innovative, transparent trading solutions to our clients. As a
market maker, Virtu provides deep liquidity that helps to create
more efficient markets around the world. Our market structure
expertise, broad diversification, and execution technology enables
us to provide competitive bids and offers in over 19,000
securities, at over 235 venues, in 36 countries worldwide.
Cautionary Note Regarding Forward-Looking
Statements
The foregoing information and certain oral statements made from
time to time by representatives of the Company contain certain
forward-looking statements that reflect the company's current views
with respect to certain current and future events and financial
performance. These forward-looking statements are and will be, as
the case may be, subject to many risks, uncertainties and factors
relating to the Company's operations and business environment which
may cause the company's actual results to be materially different
from any future results, expressed or implied, in these
forward-looking statements. Any forward-looking statements in this
release are based upon information available to the company on the
date of this release. The Company does not undertake to publicly
update or revise its forward-looking statements even if experience
or future changes make it clear that any statements expressed or
implied therein will not be realized. Additional information on
risk factors that could potentially affect the Company's financial
results may be found in the Company's filings with
the Securities and Exchange Commission.
CONTACT Investor
Relations Andrew Smith Virtu Financial, Inc. (212)
418-0195 investor_relations@virtu.com
Media Relations media@virtu.com
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