Ryan Specialty launches $1.6 billion term loan at SOFR plus 275 bps

By Sara Rosenberg

New York, Jan. 10 – Ryan Specialty Group LLC held a lender call at noon ET on Wednesday to launch a $1.6 billion term loan B that is talked at SOFR plus 275 basis points with a 0.75% floor and an original issue discount of 99.875 to par, 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.

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

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

Ryan Specialty is a Chicago-based specialty insurance organization.

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