American Wholesale Insurance to get new loan for Stewart Smith acquisition

By Sara Rosenberg

New York, Feb. 17 - American Wholesale Insurance Group Inc. will be getting a new credit facility to help fund its acquisition of Stewart Smith Group from Willis Group Holdings, according to a company spokesman. Credit Suisse First Boston is the sole lead arranger on the deal.

Size, structure, price talk and timing on the credit facility are all to be determined at this time, according to a syndicate document.

The acquisition is anticipated to close on March 31.

American Wholesale Insurance is a Charlotte, N.C.-based wholesale insurance organization. Stewart Smith is a New York-based wholesale insurance broker.

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