Sedgwick launches $300 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, May 19 – Sedgwick Claims Management Services Inc. launched a $300 million term loan (B) that is talked at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 96, according to a market source.

The term loan is non-callable for one year, then at 101 for six months, the source said.

BofA Securities, Inc. is the lead bank on the deal.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to increase liquidity.

Sedgwick is a Memphis, Tenn.-based provider of technology-enabled risk, benefits and integrated business solutions.

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