Virtu Financial to price $525 million seven-year first-lien notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., June 26 – Virtu Financial LLC plans to price $525 million of seven-year first-lien senior secured notes in a quick-to-market Wednesday trade following a late-morning conference call with investors, according to market sources.

Initial price talk is in the 5½% area, a trader said.

J.P. Morgan Securities LLC, RBC Capital Markets LLC and Jefferies LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The New York-based financial services provider plans to use the proceeds to refinance its 6¾% second-lien notes due 2024.

The issuing entities will be VFH Parent LLC and Orchestra Co-Issuer, Inc., subsidiaries of Virtu Financial.

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