AmWINS to begin marketing $250 million tap of 7¾% notes due 2026 on Thursday investor call

By Paul A. Harris

Portland, Ore., Dec. 4 – AmWINS Group, Inc. plans to begin marketing a $250 million add-on to its 7¾% senior notes due July 1, 2026 (existing ratings B3/B-) on an investor conference call scheduled to get underway at 10:30 a.m. ET on Thursday, according to a syndicate source.

The Rule 144A and Regulation S for life deal is set to price during the week of Dec. 9.

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

The notes become callable on July 1, 2021 at 105.813.

The Charlotte, N.C.-based insurance brokerage plans to use the proceeds, together with incremental term loans and cash on hand, to declare a $500 million dividend payable to Holdings, which will use these funds to declare a pro rata distribution payable to its owners, and make payments to certain holders of stock options of AmWINS Group and unvested units of Holdings required in connection with the dividend.

The original $300 million issue priced in June 2018.

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