Hub starts roadshow for $1.32 billion eight-year senior notes

By Paul A. Harris

Portland, Ore., April 17 – Hub International Ltd. started a roadshow on Tuesday for a $1.32 billion offering of eight-year senior notes (CCC+), according to market sources.

The roadshow wraps up on Thursday, and the Rule 144A for life offering is set to price thereafter.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, Barclays, Goldman Sachs & Co., Credit Suisse Securities (USA) LLC, MacQuarie Capital, BMO Securities and Nomura are the joint bookrunners.

The notes come with three years of call protection.

The Chicago-based insurance brokerage plans to use the proceeds, together with $3.05 billion and C$200 million of term loans, to refinance its capital structure.

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