Virtu Financial Amends Credit Agreement, Adds $500M Term B-2 Loan

What Happened

• Virtu Financial LLC and related borrowers filed an 8-K on July 23, 2026 announcing Amendment No. 4 to their credit agreement with JPMorgan Chase Bank, N.A. as administrative agent. The amendment provides $500 million of incremental senior secured first‑lien Term B-2 loans, bringing the total Term B-2 loan balance to $2,029.55 million. Proceeds are designated for general corporate purposes.

Key Details

• Incremental Term B-2 Loans: $500.0 million; total Term B-2 balance after amendment: $2,029.55 million.
• Maturity: all Term B-2 Loans mature on June 21, 2031.
• Interest: at borrower's election either (A) a base-rate option (the greater of several reference rates) plus a 1.50% margin, or (B) a term SOFR-based option plus a 2.50% margin.
• Repayment: annual amortization equal to about 1.0% of the incremental loan amount (and pro rata with other Term B-2 Loans); loans are also subject to contingent principal payments tied to excess cash flow and certain triggering events.

Why It Matters

• The amendment increases Virtu’s secured term loan capacity by $500M, affecting the company’s leverage and liquidity profile. The extended maturity (2031) provides longer-term financing flexibility, while the interest margins and contingent cash‑flow repayment terms determine future cash interest and potential principal reductions. Retail investors should note this is new secured indebtedness for general corporate use — monitor future disclosures for how the company uses proceeds and any impact on leverage ratios or credit metrics.