Hub sets Wednesday investor call for $1.04 billion eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 10 - Hockey Merger Sub 2 Inc., which is to be merged with and into Hub International Ltd., set an investor call for 12:30 p.m. ET on Wednesday to discuss its proposed $1,035,000,000 offering of eight-year senior notes, according to a syndicate source.

The deal is expected to price during the Sept. 16 week.

BofA Merrill Lynch is the left bookrunner for the Rule 144A for life notes. Morgan Stanley & Co. LLC, RBC Capital Markets, Macquarie, BMO Securities and UBS Investment Bank are the joint bookrunners.

The notes come with three years of call protection and feature a three-year 40% equity clawback and a 101% poison put.

Proceeds will be used to help fund the buyout of the company by Hellman & Friedman LLC.

Hub is a Chicago-based insurance brokerage.

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