Citadel launches $4.04 billion term loan B at SOFR plus 225 bps

By Sara Rosenberg

New York, Jan. 8 – Citadel was scheduled to hold a lender call at 2 p.m. ET on Monday to launch a $4.041 billion term loan B due July 2030 that is talked at SOFR plus 225 basis points with no CSA, a 0% floor and an original issue discount of 99.875 to par, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA is the left bookrunner on the deal.

Commitments are due at noon ET on Thursday, the source added.

Proceeds will be used to reprice an existing $4.041 billion term loan B due 2030 down from SOFR+ARRC CSA plus 250 bps with a 0% floor.

Citadel is a Miami-based market maker in equities, options and fixed-income products.

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