Other DebtActive
Senior Secured First Lien Term B-2 Loan due 2031
VIRT-TL31
BTC Holdings
1,274 BTC
Total Debt
$2.04B
Leverage
1084.5%
mNAV
45.52x
Outstanding
$1.54B
Issue date
2024-06-21
Principal
$1.54B
Coupon
—
Maturity
2031-06-21
Conversion price
—
- Originally $1,245M at issuance; increased by $300M to $1,545M via Amendment No. 3 on Sep 23, 2025
- 1% annual amortization of total balance as of Amendment No. 3 effective date
- Administrative agent: JPMorgan Chase Bank, N.A.
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured first lien
- Facility type
- Term loan
- Payment frequency
- Quarterly
- Rate type
- Floating
- Rate reference
- SOFR + 250 bps, floor 0%
- Collateral
- First-priority lien on substantially all assets of VFH and guarantors; pari passu with Senior Notes
- Covenants
- Incurrence-based covenants (debt, liens, restricted payments, asset sales, affiliate transactions, mergers). No financial maintenance test on term loan.
- Prepayment
- 1% annual amortization ($15.45M/yr). Excess cash flow sweep. Voluntary prepayment permitted.
Sources(2)
- Form 8-K (senior notes is…FilingForm 8-K (senior notes issuance & credit facilities)Item 1.01Virtu Financial, Inc. — 2024-06-21
- Form 8-K (incremental ter…FilingForm 8-K (incremental term loan)Item 1.01$300M incremental term B-2 loansVirtu Financial, Inc. — 2025-09-23
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-09-23 | Draw | $1.54B $300M incremental term B-2 loans added via Amendment No. 3 | Form 8-K (incremental ter… |
| 2024-06-21 | Issuance | $1.25B | Form 8-K (senior notes is… |
- 2025-09-23 — $1,545,000,000Item 1.01 — filing — Virtu Financial, Inc.Source
- 2024-06-21 — $1,245,000,000Item 1.01 — filing — Virtu Financial, Inc.Source