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Ryan Specialty talks $1.65 billion term loan B at Libor plus 375 bps
By Sara Rosenberg
New York, July 17 – Ryan Specialty Group LLC is shopping its $1.65 billion seven-year term loan B (B1/B) with price talk of Libor plus 375 basis points with a 0.75% Libor floor and an original issue discount of 97 to 98, according to a market source.
J.P. Morgan Securities LLC, BMO Capital Markets and Barclays are the leads on the deal.
Commitments are due at 5 p.m. ET on Thursday.
Proceeds will be used to help fund the company’s merger with All Risks, Ltd.
Chicago-based Ryan Specialty and Delray Beach, Fla.-based All Risks are insurance companies.
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