Swett & Crawford to launch $395 million credit facility Friday

By Sara Rosenberg

New York, March 13 - Swett & Crawford Group Inc. is scheduled to hold a bank meeting on Friday to launch its proposed $395 million credit facility, according to a market source.

Deutsche Bank and Credit Suisse are the lead banks on the deal.

The facility consists of a $20 million revolver, a $265 million first-lien term loan B and a $110 million second-lien term loan, the source said.

Proceeds will be used to fund a recapitalization that will include paying a dividend to sponsors.

Swett & Crawford is an Atlanta-based insurance broker.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.