Acrisure to price $200 million tap of 8 1/8% notes on Thursday; guidance 105-105.5

By Paul A. Harris

Portland, Ore., Oct. 10 – Acrisure, LLC and Acrisure Finance, Inc. plan to price a $200 million add-on to their 8 1/8% senior secured notes due Feb. 15, 2024 (existing ratings B2/B) in a quick-to-market Thursday trade following a late-morning conference call with investors, according to a market source.

Initial price talk is 105 to 105.5.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners for the Rule 144A and Regulation S for life deal.

The Caledonia, Mich.-based insurance brokerage plans to use the proceeds to fund acquisitions.

The original $750 million issue price on Jan. 18, 2019.

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