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Acrisure to launch $600 million incremental term loan on Wednesday
By Sara Rosenberg
New York, Nov. 2 – Acrisure LLC is set to hold a lender call at 12:30 p.m. ET on Wednesday to launch a non-fungible $600 million incremental first-lien term loan (B) due February 2027, according to a market source.
JPMorgan Chase Bank and BMO Capital Markets are the lead banks on the deal.
Price talk on the incremental term loan is Libor plus 425 basis points to 450 bps with a 0.5% Libor floor and an original issue discount of 99, the source said.
The term loan has 101 soft call protection for six months.
Commitments are due at noon ET on Nov. 10, the source added.
Proceeds will be used to fund acquisitions.
Acrisure is a Caledonia, Mich.-based insurance brokerage.
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