Hudson River launches $100 million add-on term B at 99.5-99.75 OID

By Sara Rosenberg

New York, May 13 – Hudson River Trading LLC held a lender call on Monday to launch a fungible $100 million add-on term loan B due April 2025 that is talked with an original issue discount of 99.5 to 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 350 basis points with a 0% Libor floor.

The add-on 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 Friday, the source added.

Proceeds will be used for general corporate purposes and for trading capital.

In addition, the company is seeking an amendment to its existing credit agreement to remove and revise some covenants.

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

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