AssuredPartners launches add-on term loan, amendment and extension

By Sara Rosenberg

New York, Sept. 13 – AssuredPartners Inc. held a lender call at 2:30 p.m. ET on Wednesday to launch a $150 million add-on term loan and an amendment and extension of its existing term loan to October 2024 from October 2022, according to a market source.

Including the add-on, the term loan will total $1,271,000,000.

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

Proceeds from the add-on will be used to repay revolving credit facility borrowings and for acquisition financing.

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

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