Hudson River ups term B to $400 million, firms at Libor plus 350 bps

By Sara Rosenberg

New York, Oct. 18 – Hudson River Trading LLC upsized its term loan B due 2025 to $400 million from $348.5 million and finalized pricing at Libor plus 350 basis points, the high end of the Libor plus 325 bps to 350 bps talk, according to a market source.

In addition, the issue price on the term loan was revised to par from 99.875, the source said.

The term loan still has a 0% Libor floor and 101 soft call protection for six months.

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

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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