AmWINS Group increases term loan B amount to $850 million

By Sara Rosenberg

New York, Feb. 9 – AmWINS Group Inc. upsized its non-fungible incremental term loan B due February 2028 to $850 million from $700 million, according to a market source.

Price talk on the term loan remained at SOFR +10 basis points CSA plus 300 bps with a 0.75% floor and an original issue discount of 98 to 98.5.

The term loan still has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due at 10 a.m. ET on Friday, accelerated from 5 p.m. ET on Monday, the source added.

Proceeds will be used with cash on hand to fund a dividend to shareholders.

AmWINS is a Charlotte, N.C.-based specialty insurance broker.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.