Subsidiaries of Virtu Financial, a provider of financial services technology, completed and priced a new $1.8 billion senior secured first lien term loan due in 2029. According to an 8K filed with the SEC, JPMorgan Chase Bank is the administrative agent for the term loan.

The term loan was priced at SOFR (with a floor of 50 basis points) plus a credit spread adjustment and 300 basis points and was issued at 99.75% of par.

As previously reported, Virtu Financial will use the proceeds of the term loan to repay its existing senior secured term loan in connection with a refinancing of its existing credit facilities, to fund share repurchases under the company’s authorized repurchase program and for general corporate purposes. The term loan will be guaranteed by subsidiaries of Virtu Financial.