AssuredPartners to launch $110 million first-lien term loan on Monday

By Sara Rosenberg

New York, April 1 – AssuredPartners Inc. is set to hold a conference call on Monday to launch a $110 million incremental first-lien term loan, according to a market source.

Bank of America Merrill Lynch is the left lead on the deal.

Pricing on the incremental term loan is Libor plus 475 basis points with a 1% Libor floor and an original issue discount that is still to be determined, the source said.

Proceeds will be used to pay down revolver borrowings, to fund acquisitions and for general corporate purposes.

AssuredPartners is a Lake Mary, Fla.-based provider of property and casualty and employee benefits insurance brokerage services.

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