Hilb, Rogal and Hamilton in-market with $400 million credit facility

By Sara Rosenberg

New York, Nov. 12 - Hilb, Rogal and Hamilton Co. is in-market with a $400 million credit facility, according to a syndicate document. Wachovia is the lead bank on the deal.

The facility, which launched on Wednesday, consists of a $150 million five-year revolver with an interest rate of Libor plus 175 basis points, a $50 million five-year term loan A with an interest rate of Libor plus 175 basis points, and a $200 million seven-year term loan B with an interest rate of Libor plus 225 basis points, the document said.

Proceeds will be used by the Glen Allen, Va., insurance broker to refinance debt.

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