Hyperion Insurance to launch $625 million term loan B on Thursday

By Sara Rosenberg

New York, Oct. 14 – Hyperion Insurance Group Ltd. is set to hold a lender call at noon ET on Thursday to launch a $625 million incremental senior secured term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.

Proceeds will be used to fund the company’s acquisition of A-Plan Group, a personal and commercial lines insurance broker, to repay borrowings under its revolving credit facility, to fund its locked box account and to pay related fees and expenses.

HgCapital will make a £500 million equity investment in Hyperion, adding Hg as long term investors in Hyperion alongside General Atlantic and Caisse de depot et placement du Quebec.

Hyperion is a London-based insurance intermediary group.

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