Acrisure talks $500 million eight-year notes at 5 7/8% area yield; pricing Tuesday

By Paul A. Harris

Portland, Ore., July 27 – Acrisure LLC and Acrisure Finance Inc. talked their $500 million offering of eight-year senior notes (Caa2/CCC+) to yield in the 5 7/8% area, according to market sources.

Official talk comes at the tight end of initial guidance in the 6% area.

The deal is set to price on Tuesday.

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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