Hub International plans new debt for buyout by Hellman & Friedman

By Sara Rosenberg

New York, Aug. 5 - Hub International Ltd. has received a commitment for new debt financing to help fund its purchase by Hellman & Friedman LLC and to refinance existing debt, according to a news release.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and RBC Capital Markets are the lead banks on the deal.

Closing on the buyout, which values the company at about $4.4 billion, is expected to occur by year-end, subject to customary conditions.

Hub is a Chicago-based insurance brokerage providing property and casualty, life and health, employee benefits, investment and risk management products and services.

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