Ryan Specialty shops $1.65 billion term B at Libor plus 275-300 bps

By Sara Rosenberg

New York, March 18 – Ryan Specialty Group LLC is in market with a $1.646 billion term loan B due September 2027 that is talked at Libor plus 275 basis points to 300 bps with a 0.5% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal that launched with a call on Wednesday.

Commitments are due at 5 p.m. ET on March 24, the source added.

Proceeds will be used to reprice an existing term loan B.

Ryan Specialty is a Chicago-based specialty insurance organization.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.