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AssuredPartners shops amendment to shift term loan B to SOFR
By Sara Rosenberg
New York, April 17 – AssuredPartners Inc. is seeking a negative consent amendment to transition its term loan B to SOFR from Libor and add a credit spread adjustment, according to a market source.
The CSA being offered is ARRC standard of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, the source said.
BofA Securities Inc. is the lead on the deal.
The amendment deadline is the end of the day on Friday, the source added.
AssuredPartners is a Lake Mary, Fla.-based insurance brokerage firm.
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