Arthur J. Gallagher enters into $800 million unsecured credit facility

By Wendy Van Sickle

Columbus, Ohio, April 8 – Arthur J. Gallagher & Co. entered into a five-year $800 million unsecured credit facility, according to a Friday press release.

The debt was led by Bank of Montreal, Bank of America Merrill Lynch, Barclays Bank, Citibank and JPMorgan Chase Bank.

At Gallagher's request, the facility may be increased to $1.1 billion upon satisfaction of certain conditions.

The new facility replaces a $600 million unsecured revolving credit facility that was due to expire on Sept. 19, 2018.

Proceeds may be used for acquisitions or general corporate purposes.

Itasca, Ill.-based Arthur J. Gallagher is an insurance brokerage and risk management services company.

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