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

(END) Dow Jones Newswires

06-10-24 1016ET