HUB International to launch $1.95 billion term loan on Thursday

By Sara Rosenberg

New York, March 26 - HUB International Ltd. is set to hold a call at 3 p.m. ET on Thursday to launch a $1,951,000,000 senior secured term loan, according to a market source.

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

Of the total term loan amount, $90 million is an add-on and the remainder is to reprice the existing term loan from Libor plus 375 basis points with a 1% Libor floor, the source said.

HUB is a Chicago-based insurance brokerage.

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