Daily News: July 11, 2017

JPMorgan Agents $1.15B Facility for Virtu Financial


Virtu Financial closed its previously announced $1.15 billion term loan with JPMorgan as administrative agent.

The new term loan and $500 million of second lien notes are being issued to finance, in part, the company’s pending acquisition of KCG Holdings, and to repay certain indebtedness of the company and KCG.

The acquisition is expected to close during the Q3/17 after receipt of KCG shareholder approval and all required regulatory approvals.

According to a related 8-K filing, the term loan facility matures on December 30, 2021.

Virtu is a technology-enabled market maker and liquidity provider to the global financial markets.