Hudson River ups add-on loan to $125 million, tightens OID to 99.875

By Sara Rosenberg

New York, May 17 – Hudson River Trading LLC upsized its fungible add-on term loan B due April 2025 to $125 million from $100 million and revised the original issue discount to 99.875 from 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.

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

Books closed at noon ET on Friday, the source said.

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

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

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.