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AssuredPartners to launch $500 million term loan on Wednesday
By Sara Rosenberg
New York, Jan. 18 – AssuredPartners Inc. is set to hold a lender call at 3 p.m. ET on Wednesday to launch a non-fungible $500 million incremental term loan due February 2027, according to a market source.
Barclays, JPMorgan Chase Bank, BofA Securities Inc., Morgan Stanley Senior Funding Inc., BMO Capital Markets, Goldman Sachs Bank USA, RBC Capital Markets, Deutsche Bank Securities Inc., Mizuho, Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc. and ING are the joint bookrunners on the deal. BofA is the administrative agent.
The term loan has 101 soft call protection for six months, the source said.
Proceeds will be used to provide liquidity for near-term acquisition activity and to pay down revolving credit facility borrowings.
AssuredPartners is a Lake Mary, Fla.-based insurance brokerage firm.
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