Hudson River talks $1.73 billion term loan B at Libor plus 300 bps

By Sara Rosenberg

New York, March 4 – Hudson River Trading LLC launched on Thursday its $1.725 billion seven-year first-lien term loan B (BB-) with price talk of Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

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

Goldman Sachs Bank USA, BofA Securities Inc. and JPMorgan Chase Bank are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on March 16, the source added.

Proceeds will be used to refinance an existing $1.225 billion term loan and add cash to the balance sheet.

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

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