Baldwin Risk launches $500 million term B at Libor plus 375 bps

By Sara Rosenberg

New York, May 24 – Baldwin Risk Partners LLC held a lender call on Monday to launch a $500 million senior secured first-lien term loan B due 2027 that is talked at Libor plus 375 basis points with a 0.5% Libor floor and an original issue discount of 99.75, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at noon ET on Thursday, the source said.

Proceeds will be used for general corporate purposes, including acquisitions and investments, and to reprice an existing $400 million term loan B down from Libor plus 400 bps with a 0.75% Libor floor.

Baldwin Risk, a subsidiary of BRP Group Inc., is a Tampa, Fla.-based insurance distribution firm.

© 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.