Fortegra gets $125 million credit facility with $50 million accordion

By Toni Weeks

San Diego, Aug. 6 - Fortegra Financial Corp. entered into a $125 million senior secured credit facility on Monday, replacing the company's existing $85 million facility that was set to expire in June 2013.

The facility consists of a $75 million five-year revolving credit facility and a $50 million five-year term loan. It also includes a $50 million accordion feature.

Wells Fargo acted as administrative agent, bookrunner and joint lead arranger with Synovus Bank. Synovus is also the syndication agent for the facility.

The Jacksonville, Fla., company provides insurance services to other businesses.

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