Virtu Prepays $100 Million of Term Loan

Rhea-AI Summary

On August 14, 2020, Virtu Financial (NASDAQ: VIRT) announced a $100 million prepayment on its first lien senior secured term loan, reducing the total balance to $1.636 billion. This prepayment brings the cumulative total to $388 million since acquiring Investment Technology Group, Inc. in March 2019. Virtu continues to leverage advanced technology for innovative trading solutions, enhancing liquidity in global markets across multiple asset classes.

Positive

• Completed $100 million prepayment on term loan, reducing balance to $1.636 billion.
• Year-to-date prepayments total $288 million, showing strong debt management.
• Cumulative prepayments since March 2019 acquisition reached $388 million.

Negative

• None.

NEW YORK, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, announced today that it completed prepayments totaling $100 million in principal on its first lien senior secured term loan facility (“Term Loan”), which matures in March 2026. 

The $100 million prepayment reduces the total balance of the Term Loan to $1.636 billion, bringing the total year to date prepayments to $288 million and cumulative prepayments since the Company’s acquisition of Investment Technology Group, Inc. in March 2019 to $388 million. 

About Virtu Financial, Inc.

Virtu is a leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology.  Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities.  In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not historical facts are forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, and if the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties, some or all of which are not predictable or within Virtu’s control, that could cause actual performance or results to differ materially from those expressed in the statements. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Virtu’s Securities and Exchange Commission (“SEC”) filings, including but not limited to Virtu’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

Contact:
Investor Relations Deborah Belevan, IRC, CPA investor_relations@virtu.com		Media Relations Andrew Smith media@virtu.com

FAQ

What was Virtu Financial's recent loan prepayment amount?

Virtu Financial announced a $100 million prepayment on its term loan.

How much is Virtu Financial's total term loan balance after the prepayment?

After the prepayment, Virtu Financial's total term loan balance is $1.636 billion.

What are the cumulative prepayments made by Virtu Financial since 2019?

Cumulative prepayments since the acquisition of Investment Technology Group in March 2019 total $388 million.

When does Virtu Financial's term loan mature?

Virtu Financial's term loan is set to mature in March 2026.