Acrisure firms $500 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, July 27 – Acrisure LLC set pricing on its non-fungible $500 million incremental term loan B (B2/B) at Libor plus 375 basis points, the high end of the Libor plus 350 bps to 375 bps talk, according to a market source.

As before, the term loan has a 0.5% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

JPMorgan Chase Bank is the lead bank on the deal.

Proceeds will be used with $500 million of notes 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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