HUB International to launch $375 million incremental term B on Tuesday

By Sara Rosenberg

New York, March 6 – HUB International Ltd. is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a $375 million incremental first-lien term loan B, according to a market source.

Morgan Stanley Senior Funding Inc., RBC Capital Markets, Macquarie Capital (USA) Inc., Bank of America Merrill Lynch and BMO Capital Markets are the leads on the deal.

Proceeds will be used to repay borrowings under the company’s revolving credit facility and to refinance its existing second-lien notes due 2021, the source said.

HUB is a Chicago-based insurance brokerage.

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