Hub $200 million term loan prices at Libor plus 475 basis points

By Sara Rosenberg

New York, Oct. 29 - Hub International Ltd. firmed pricing on its $200 million incremental term loan at Libor plus 475 basis points, the low end of initial talk of Libor plus 475 bps to 500 bps, according to sources.

The loan has a 2% Libor floor and was sold at an original issue discount of 98.

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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