By Adriano Marchese
Virtu Financial shares were sharply higher Monday after the company said it plans to offer $500 million in senior notes to pay down an existing loan and that it has been added to the S&P 600.
Shares were 16% higher at $25.42.
The financial services company said its subsidiaries, VFH Parent LLC and Valor Co-Issuer, intend to offer $500 million aggregate principal amount of senior first lien notes due 2031 in an opportunistic private offering.
Virtu plans to use the new money to repay $500 million aggregate principal amount outstanding under the an existing senior secured first lien term loan facility.
Late on Friday, Virtu Financial was added to the S&P 600 listing which covers smallcap companies.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
06-10-24 1016ET