Acrisure to launch $500 million incremental term loan on Tuesday

By Sara Rosenberg

New York, July 19 – Acrisure LLC is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a non-fungible $500 million incremental term loan B (B), according to a market source.

JPMorgan Chase Bank is the lead bank on the deal.

Price talk on the incremental term loan is Libor plus 350 basis points to 375 bps with a 0.5% Libor floor and an original issue discount of 99, the source said.

The incremental term loan has 101 soft call protection for six months.

Commitments are due at noon ET on July 27, the source added.

Proceeds will be used with $500 million of other unsecured debt to fund acquisitions under signed letters of intent, fund future acquisitions, and pay related fees and expenses.

Acrisure is a Caledonia, Mich.-based insurance brokerage.

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