Hudson River launches $100 million term loan B at SOFR plus 300 bps

By Sara Rosenberg

New York, Jan. 5 – Hudson River Trading LLC launched on Wednesday its fungible $100 million incremental first-lien term loan B due March 18, 2028 with price talk of SOFR+CSA plus 300 basis points with a 0% floor and an original issue discount of 98.56, according to a market source.

CSA is 0.11448% for one month, 0.26161% for three months and 0.42826% for six months, the source said.

Amortization on the incremental term loan is 1% per annum.

The company is also looking to amend its existing facility to migrate to SOFR subject to a negative consent amendment, and seeking an amendment to its revolving credit facility to allow for the securing of a pari passu revolver under the existing general liens basket, the source continued.

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

Commitments and consents are due at 5 p.m. ET on Jan. 12, the source added.

Proceeds will be used for general corporate purposes, including additional trading capital.

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

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