AmWINS launches $902 million term loan repricing at Libor plus 375 bps

By Sara Rosenberg

New York, May 19 – AmWINS Group LLC was set to hold a lender call at 3:30 p.m. ET on Thursday to launch a $902 million first-lien covenant-light term loan due September 2019 that is talked at Libor plus 375 basis points with a 1% Libor floor and a par issue price, according to a market source.

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

Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and Barclays are the joint lead arrangers on the deal, and Wells Fargo Securities LLC and Morgan Stanley Senior Funding Inc. are co-managers.

Proceeds will be used to reprice the existing first-lien term loan from Libor plus 425 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

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.