Hyperion launches $250 million term loan B at Libor plus 425 bps

By Sara Rosenberg

New York, Sept. 16 - Hyperion Insurance Group Ltd. launched on Monday its $250 million senior secured term loan B due 2019 with price talk of Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The B loan has 101 soft call protection for one year, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund pipeline acquisitions.

Corporate ratings are expected at B2/B, the source added.

Hyperion is a London-based insurance intermediary business.

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