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Ardonagh lines up £1.875 billion financing commitment led by Ares
By Wendy Van Sickle
Columbus, Ohio, June 22 – Ardonagh Group has received a £1.875 billion financing commitment led by Ares Management Corp., according to a news release.
Other significant lenders include Caisse de depot et placement du Quebec, HPS and KKR.
The financing comprises a £1.575 billion unitranche loan and a £300 million committed capital expenditures facility. The combined commitment represents the largest ever unitranche financing, according to the release.
The financing will be part of the company’s global refinancing to support its business expansion plans.
The insurance brokerage plans is based in London.
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