Sedgwick Claims to launch $1.1 billion term loan B on Tuesday

By Sara Rosenberg

New York, July 29 – Sedgwick Claims Management Services Inc. is set to hold a lender call at 10 a.m. ET on Tuesday to launch a $1.1 billion seven-year covenant-lite incremental term loan B, according to a market source.

BofA Securities Inc., Morgan Stanley Senior Funding Inc., SunTrust Robinson Humphrey Inc., Barclays, Goldman Sachs Bank USA, Wells Fargo Securities LLC, BNP Paribas Securities Corp., TCG, Citizens Bank, Credit Agricole, Fifth Third Bank, ING, KKR Capital Markets and MUFG are the lead arrangers on the deal.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to fund the acquisition of York Risk Services Group.

Closing is subject to customary conditions and regulatory approvals.

Sedgwick is a Memphis, Tenn.-based provider of technology-enabled risk, benefits and integrated business solutions. York is a Jersey City, N.J.-based provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control solutions.

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