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Ryan Specialty firms $1.6 billion term loan at par issue price
By Sara Rosenberg
New York, Jan. 17 – Ryan Specialty Group LLC set the issue price on its $1.597 billion term loan B at par, the tight end of the 99.875 to par talk, according to a market source.
Pricing on the term loan remained at SOFR plus 275 basis points with a 0.75% floor.
The term loan still has 101 soft call protection for six months.
JPMorgan Chase Bank is the lead on the deal.
Proceeds will be used to reprice an existing term loan B.
Ryan Specialty is a Chicago-based specialty insurance organization.
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