AssuredPartners launches $1.12 billion term loan at Libor plus 350 bps

By Sara Rosenberg

New York, May 1 – AssuredPartners Inc. held a lender call on Monday to launch a $1,123,000,000 term loan that is talked at Libor plus 350 basis points with a 0% Libor floor and a par issue price, according to a market source.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., RBC Capital Markets LLC, Barclays, Macquarie Capital (USA) Inc. and BMO Capital Markets Corp. are the leads on the deal.

Proceeds will be used to reprice an existing term loan from Libor plus 425 bps with a 1% Libor floor.

AssuredPartners is a Lake Mary, Fla.-based provider of property and casualty and employee benefits insurance brokerage services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.