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(Bloomberg) -- Jane Street Group LLC is back in the leveraged debt markets after launching a $1 billion leveraged loan on Monday amid a rush of deals.

Proceeds on the seven-year loan will be used to refinance and increase the size of the trading firm’s existing first-lien loan, with incremental proceeds going toward general corporate purposes and trading capital, according to a person with knowledge of the matter, who asked not to be named discussing a private transaction.

Jane Street is among a wave of borrowers rushing to tap the leveraged loan market in a final dash before activity slows down during the December holidays. The first deals of the month follow a record November which saw more than $113 billion of issuance.

The company also tapped the market in October, repricing its $3.2 billion loan by locking in lower borrowing costs and also selling a $1.15 billion junk bond.

Representatives for Jane Street and JPMorgan Chase & Co., which is leading the deal, did not immediately respond to a request for comment.

Pricing discussions on the loan are for a margin of two percentage points over the Secured Overnight Financing Rate, the person said. Commitments are due Tuesday, Dec. 10, at 5 p.m. New York time.