Hudson River lifts add-on term loan to $528.5 million, firms OID

By Sara Rosenberg

New York, Aug. 14 – Hudson River Trading LLC upsized its fungible add-on term loan to $528.5 million from $400 million and finalized the original issue discount at 98.75, the tight end of the 98.5 to 98.75 talk, according to a market source.

Pricing on the add-on term loan is Libor plus 300 basis points with a 0% Libor floor.

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

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

Proceeds will be used for general corporate purposes.

Hudson River is a New York-based multi-asset class quantitative trading firm.

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