Hilb, Rogal and Hamilton to hold bank meeting Thursday for $260 million credit facility

By Sara Rosenberg

New York, May 22 - Hilb, Rogal and Hamilton Co. is scheduled to hold a bank meeting Thursday regarding its new $260 million credit facility. Wachovia is the lead bank on the deal.

The Glen Allen, Va. insurance intermediary's new loan consists of a $130 million pro rata portion with an interest rate of Libor plus 200 basis points and a $130 million term B with an interest rate of Libor plus 300 basis points, according to market sources.

Proceeds will be used to help fund the acquisition of Hobbs group LLC, an Atlanta, Ga. insurance broker.

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