Other DebtActive
7.50% Senior First Lien Notes due 2031
VIRT-Sr31
BTC Holdings
1,274 BTC
Total Debt
$2.04B
Leverage
1084.2%
mNAV
45.51x
Outstanding
$500.00M
Insufficient history
Issue date
2024-06-21
Principal
$500.00M
Coupon
7.50%
Maturity
2031-06-15
Conversion price
—
- Issued by VFH Parent LLC and Valor Co-Issuer Inc.
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured first lien
- Payment frequency
- Semi-annual
- Payment dates
- Jun 15, Dec 15
- Rate type
- Fixed
- Collateral
- First-priority perfected lien on substantially all assets of the Issuers and Guarantors, including material personal property and capital stock of subsidiaries; pari passu with Credit Agreement obligations
- Covenants
- Incurrence-based: limitations on additional debt/preferred stock, restricted payments, liens, affiliate transactions, mergers/consolidations, asset sales, subsidiary dividend restrictions. Change of control put at 101%.
- Prepayment
- Pre-Jun 15 2027: make-whole premium, equity clawback up to 40% at 107.5%, annual 10% at 103%. Jun 15 2027: 103.75%. Jun 15 2028: 101.875%. Jun 15 2029+: par. Bullet maturity, no amortization.
Sources(1)
- Form 8-K (senior notes is…FilingForm 8-K (senior notes issuance & credit facilities)Item 1.01Virtu Financial, Inc. — 2024-06-21
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-06-21 | Issuance | $500.00M | Form 8-K (senior notes is… |
- 2024-06-21 — $500,000,000Item 1.01 — filing — Virtu Financial, Inc.Source