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Hudson River launches $348.5 million term B at Libor plus 325-350 bps
By Sara Rosenberg
New York, Oct. 10 – Hudson River Trading LLC held a lender call on Wednesday to launch a $348.5 million term loan B due 2025 with price talk of Libor plus 325 basis points to 350 bps 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.
Commitments are due at noon ET on Oct. 17, the source added.
Proceeds will be used to refinance an existing term loan and for general corporate purposes.
Hudson River is a New York-based multi-asset class quantitative trading firm.
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