Hub $200 million term loan talked at Libor plus 475 to 500 bps

By Sara Rosenberg

New York, Oct. 23 - Hub International Ltd. launched its $200 million incremental term loan on Friday with price talk of Libor plus 475 basis points to 500 bps with a 2% Libor floor and an original issue discount that is indicated in the 98 area, according to a market source.

Morgan Stanley and Bank of America are the lead banks on the deal.

Proceeds will be used for general corporate purposes.

Hub is a Chicago-based insurance company.

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