Citadel launches $2.5 billion term loan B at Libor plus 250 bps

By Sara Rosenberg

New York, Jan. 21 – Citadel held a lender call at noon ET on Thursday to launch a $2.5 billion seven-year term loan B that is talked at Libor plus 250 basis points with a 0% Libor floor and an original issue discount of 99.875, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used for general corporate purposes and to refinance existing debt.

Citadel is a Chicago-based provider of market-making services to the fixed income, currency and commodity markets.

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