Hub International selling $300 million five-year notes Wednesday

By Paul A. Harris

Portland, Ore., Jan. 27 – Hub International Ltd. plans to price a $300 million offering of five-year senior second-lien secured notes on Wednesday trailing a mid-morning conference call with investors, according to an informed source.

Morgan Stanley & Co. LLC is the bookrunner for the Rule 144A for life and Regulation S notes offering.

The notes become callable after one year at 103.

The Chicago-based insurance brokerage plans to use the proceeds for general corporate purposes, including future acquisitions, and to pay down all revolving credit loans under its senior secured credit facilities.

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