Risk Strategies upsizes loan to $700 million, affirms spread 600 bps, trims discount to 98.5

By Paul A. Harris

Portland, Ore., July 17 – Risk Strategies Co. upsized its uni-tranche incremental delayed-draw term loan to $700 million from $500 million, according to a market source.

Spread talk is affirmed at SOFR plus 600 basis points. Price talk saw the discount cut to 98.5 from 98.

There is a 0.75% floor and 101 call protection for one year and a total net leverage covenant, the source said.

Golub Capital is the left lead arranger on the deal.

Commitments are due at noon ET on Friday.

Proceeds will be used to support ongoing acquisition opportunities.

The company currently has a roughly $3.5 billion uni-tranche facility for which Golub is the administrative agent.

Risk Strategies, a portfolio company of Kelso & Co., is a Boston-based insurance brokerage firm.

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