AmWINS starts roadshow for $300 million eight-year note offer

By Paul A. Harris

Portland, Ore., June 25 – AmWINS Group, Inc. started a roadshow on Monday in New York for a $300 million offering of eight-year senior notes (S&P: B-), according to a syndicate source.

The roadshow travels to Boston on Tuesday and Los Angeles on Wednesday. The Rule 144A and Regulation S for life notes will be priced thereafter.

The deal will also be marketed by means of investor conference calls, the source said.

Goldman Sachs & Co. is the left bookrunner. Barclays, JP Morgan Securities LLC, Morgan Stanley & Co and Wells Fargo Securities LLC are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

The Charlotte, N.C.-based specialty insurance broker plans to use the proceeds, together with proceeds from its term loans and cash on hand, to pay off its second lien credit facility and first lien revolving credit facility as well as to fund a dividend and make payments to certain holders of stock options related to the dividend.

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