Acrisure launches $1 billion term loan B-5 at SOFR plus 450-475 bps

By Sara Rosenberg

New York, Oct. 16 – Acrisure LLC held a lender call at 11 a.m. ET on Monday to launch a $1 billion seven-year term loan B-5 that is talked at SOFR plus 450 basis points to 475 bps with a 0% floor and an original issue discount of 99, according to a market source.

JPMorgan Chase Bank, BMO Capital Markets, RBC Capital Markets, Truist Securities, Citigroup Global Markets Inc., BofA Securities Inc., TD Securities (USA) LLC, Wells Fargo Securities LLC, Goldman Sachs Bank USA and Mizuho are the arrangers on the deal. JPMorgan is the administrative agent.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance an existing term loan B-4 due 2027 that is priced at SOFR plus 575 bps with a 1% floor.

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

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