Virtu, Dun & Bradstreet come to market; Hudson River, Addison Group, Power Stop on deck

By Sara Rosenberg

New York, Jan. 4 – In the primary market on Tuesday, Virtu Financial Inc. (VHF Parent LLC) and Dun & Bradstreet Holdings Inc. approached lenders with new term loan transactions.

Also, Hudson River Trading LLC, Addison Group and Power Stop LLC joined this week’s new issue calendar.

Virtu holds call

Virtu Financial hosted a lender call at noon ET on Tuesday, launching a $1.8 billion seven-year senior secured covenant-lite first-lien term loan (Ba3/B+/BB-) talked at SOFR+CSA plus 300 basis points to 325 bps with a 0.5% floor and an original issue discount of 99.5, a market source remarked.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, the source added.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Jan. 11.

JPMorgan Chase Bank, Goldman Sachs Bank USA, RBC Capital Markets, Barclays, Jefferies LLC, CIBC and BMO Capital Markets are leading the deal that will be used to repay an existing senior secured term loan, to fund share repurchases under the company’s authorized repurchase program and for general corporate purposes.

The company has already received commitments for a $250 million revolving credit facility due 2025 to refinance its existing $50 million revolver due 2022.

Pro forma total leverage will be 1.4x and net leverage will be 0.9x.

Virtu is a New York-based provider of financial services technology.

Dun & Bradstreet launches

Dun & Bradstreet held a lender call at 2 p.m. ET on Tuesday to launch a $460 million seven-year incremental term loan B (B+/BB+) talked at SOFR plus 325 bps with a 25 bps step-down at B1/B+ corporate family ratings, a 0% floor, an original issue discount of 99 to 99.25 and 101 soft call protection for six months, a market source said.

The term loan has no CSA, the source added.

Commitments are due at noon ET on Friday.

BofA Securities Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank, Barclays, Citigroup Global Markets Inc., RBC Capital Markets, Truist, Wells Fargo Securities LLC, Citizens, HSBC Securities (USA) Inc., Mizuho and TD Securities (USA) LLC are leading the deal that will be used to redeem notes and add cash to the balance sheet.

Dun & Bradstreet is a Short Hills, N.J.-based provider of business decisioning data and analytics.

Hudson readies deal

Hudson River Trading set a lender call for 9 a.m. ET on Wednesday to launch a fungible $100 million incremental first-lien term loan B and an amendment to its existing credit facility, according to a market source.

Goldman Sachs Bank USA, BofA Securities Inc. and JPMorgan Chase Bank are leading the deal that will be used for general corporate purposes, including additional trading capital.

Hudson River Trading is a New York-based electronic market maker and liquidity provider.

Addison joins calendar

Addison Group will hold a lender call at 2 p.m. ET on Thursday to launch a $525 million term loan B, a market source remarked.

The company is also getting a $65 million ABL revolver, the source added.

KKR Capital Markets and Credit Suisse Securities (USA) LLC are leading the deal that will be used to help fund the buyout of the company by Trilantic North America from Odyssey Investment Partners LLC.

Addison Group is a Chicago-based professional services firm specializing in talent solutions and consulting services.

Power Stop on deck

Power Stop scheduled a bank meeting for 11 a.m. ET on Thursday to launch $435 million of credit facilities, according to a market source.

The facilities consist of a $40 million five-year revolver and a $395 million seven-year first-lien term loan, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at 4 p.m. ET on Jan. 20, the source added.

Jefferies LLC and Antares Capital are leading the deal that will be used to refinance existing debt and fund a distribution to shareholders.

Power Stop is a manufacturer of aftermarket automotive brake kits.

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