Virtu Financial Shares Rise on $500 Million Notes Offering, Addition to S&P 600 Listing
By Adriano Marchese
Virtu Financial shares were sharply higher Monday after the company said it plans to offer $500 million in senior notes to pay down an existing loan and that it has been added to the S&P 600.
Shares were 16% higher at $25.42.
The financial services company said its subsidiaries, VFH Parent LLC and Valor Co-Issuer, intend to offer $500 million aggregate principal amount of senior first lien notes due 2031 in an opportunistic private offering.
Virtu plans to use the new money to repay $500 million aggregate principal amount outstanding under the an existing senior secured first lien term loan facility.
Late on Friday, Virtu Financial was added to the S&P 600 listing which covers smallcap companies.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 10, 2024 10:16 ET (14:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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