Investment Technology Group completes $150 million revolver

By Sara Rosenberg

New York, Feb. 4 - Investment Technology Group Inc. closed on a new $150 million three-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

JPMorgan is the administrative agent on the deal that was completed on Jan. 31.

Pricing on the revolver is Base rate plus 250 basis points with a 50 bps unused fee.

There is a $100 million accordion feature.

Proceeds will be used to provide liquidity for the company's U.S. brokerage operations to satisfy clearing margin requirements and to finance temporary positions from delivery failures or non-standard settlements.

Investment Technology Group is a New York-based agency brokerage and financial technology company.

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