AssuredPartners launches $500 million term loan at SOFR plus 350 bps

By Sara Rosenberg

New York, Jan. 19 – AssuredPartners Inc. launched on Wednesday its non-fungible $500 million incremental term loan due February 2027 with price talk of SOFR plus 350 basis points with a 0.5% floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and no CSA.

Barclays, JPMorgan Chase Bank, BofA Securities Inc., Morgan Stanley Senior Funding Inc., BMO Capital Markets, Goldman Sachs Bank USA, RBC Capital Markets, Deutsche Bank Securities Inc., Mizuho, Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc. and ING are the joint bookrunners on the deal. BofA is the administrative agent.

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

Proceeds will be used to provide liquidity for near-term acquisition activity and to pay down revolving credit facility borrowings.

AssuredPartners is a Lake Mary, Fla.-based insurance brokerage firm.

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