Jane Street Group LLC completed a $577 million fungible add-on to its first-lien term loan and a refinancing of the existing $1.573 billion tranche that reduced pricing and extended the maturity, according to sources. Pricing for the pro forma $2.15 billion, seven-year term loan is L+275, with a 0% Libor floor. The new money add-on was issued at 99.875, while existing lenders were offered a 10-basis-point amendment fee. Proceeds from the add-on term loan will be used for general corporate purposes. With this transaction, the issuer extends the maturity of the loan from January 2025 and revises pricing from L+300. J.P. Morgan led the deal. Jane Street is a global electronic market maker with trading capabilities across all asset classes. Terms:
| Borrower | Jane Street Group LLC |
| Issue | $2.15 billion term loan B (including $577 million add-on) |
| UoP | Refinancing, GCP |
| Spread | L+275 |
| Libor floor | 0% |
| Price | 99.875 (add-on) |
| Tenor | 7-year |
| YTM | 3.03% |
| Four-year yield | 3.04% |
| Call protection | 101 soft call for 6 months |
| Corporate ratings | BB-/Ba2 |
| Facility ratings | BB-/Ba3 |
| Recovery ratings | N/A |
| Financial covenants | N/A |
| Arrangers | JPM |
| Admin agent | JPM |
| Px Talk | L+300/0%/99.75 |
| Sponsor | Private |
| Notes | Existing lenders receive 10 bps consent fee. Add-on upsized from $300 million. |
Article amended at 3:21 p.m. ET on Jan. 22 to revise issue price and add upsizing.