Acrisure to price $500 million eight-year senior notes on Tuesday; initial talk in 6% area

By Paul A. Harris

Portland, Ore., July 26 – Acrisure LLC and Acrisure Finance Inc. plan to price a $500 million offering of eight-year senior notes (Caa2/CCC+) on Tuesday, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with initial guidance in the 6% area.

J.P. Morgan Securities LLC, RBC Capital Markets LLC, BMO Capital Markets Corp., Truist Securities Inc. and BofA Securities Inc. are the joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection.

The Grand Rapids, Mich.-based insurance distribution platform plans to use the proceeds to pay down its revolving credit facility.

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