NEW YORK, June 13, 2024 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ:VIRT) ("Virtu") announced today that its subsidiaries, VFH Parent LLC (the "Issuer") and Valor Co-Issuer, Inc. (collectively with the Issuer, the "Issuers"), priced their previously announced private offering of $500 million aggregate principal amount of their 7.50% senior first lien notes due 2031 (the "notes") on June 11, 2024. In addition, on June 13, 2024, the Issuer allocated its new senior secured first lien credit facilities consisting of (i) a $1,245 million senior secured first lien term loan facility due 2031 and (ii) a $300 million senior secured first lien revolving credit facility available through 2027 (collectively, the "amended credit facilities"). The notes will bear interest at a rate equal to 7.50% per annum. The new term loans will bear interest at a rate per annum equal to SOFR plus 2.75%, an improvement from the previous SOFR plus 3.00%, and will be issued at 99.75% of par. The Issuers intend to use the proceeds of the notes offering and the new term loans to repay all amounts outstanding under the Issuer's existing term loan facility. Virtu expects to recognize cash interest expense savings of approximately $2 million per annum after giving effect to these transactions as well as extend the maturities and diversify its capital structure through the issuance of the notes. There is no material increase in debt as a result of these transactions. The notes will be fully and unconditionally guaranteed on a senior secured first-lien basis by Virtu Financial LLC ("Virtu Financial") and each of Virtu Financial's existing and future wholly owned domestic subsidiaries (other than the Issuers) that guarantee, or are borrowers under, the amended credit facilities. The notes offering and the amended credit facilities are expected to close on or about June 21, 2024, subject to customary closing conditions. The consummation of the notes offering is not contingent upon the closing of the amended credit facilities. The closing of the amended credit facilities is not contingent upon the consummation of the notes offering. The notes have ...