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Virtu to use term loan proceeds to redeem notes due 2022

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Virtu to use term loan proceeds to redeem notes due 2022

Virtu Financial Inc. said its units began to market a $525.0 million senior secured first lien term loan due 2026, with proceeds to be used to redeem notes due 2022.

The company delivered a notice of redemption to holders of senior secured second lien notes due 2022. Virtu will redeem all of the notes Oct. 9 at a price equal to 103.375% of principal plus accrued and unpaid interest to the redemption date.

The redemption notice is subject to a number of conditions, including Virtu consummating a debt financing transaction of at least $525.0 million.