CTC Holdings launches $300M term loan; commitments due Feb. 16

CTC Holdings L.P. is launching today a $300 million term loan B, according to sources. A lender call was held this morning and commitments to the J.P. Morgan-led deal are due by 5 p.m. ET on Feb. 16.

Price talk for the seven-year TLB is a spread of 500 basis points over Sofr, plus a credit spread adjustment, with a 0.5% floor and an issue price of 98.5. The CSA is 10 bps for the one-month rate, 15 bps for the three-month rate and 25 bps for the six-month rate. Lenders are offered 12 months of 101 soft call protection.

At talk, the yield to maturity is around 5.71%.

Proceeds will be used for trading capital, working capital and general corporate purposes.

Facility ratings are B+/B1 and corporate ratings are B+/Ba3, with stable outlooks.

CTC Holdings is a Chicago-based options and futures market maker in various asset classes.