AmWINS launches $250 million add-on term loan B at 99.05 OID

By Sara Rosenberg

New York, Dec. 5 – AmWINS Group Inc. launched on Thursday its fungible $250 million add-on first-lien term loan B (Ba3/B+) due Jan. 25, 2024 with original issue discount talk of 99.05, according to a market source.

Pricing on the add-on term loan is Libor plus 275 basis points with a 1% Libor floor, in line with existing term loan pricing.

The add-on term loan has 101 soft call protection for six months, the source said.

Goldman Sachs Bank USA, Barclays, J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Wells Fargo Securities LLC are the leads on the deal.

Commitments and amendment consents are due on Dec. 12, the source added.

Proceeds will be used with a $250 million note offering and cash on hand to fund a dividend to shareholders.

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

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