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

By Sara Rosenberg

New York, Oct. 20 – Acrisure LLC finalized pricing on its $1 billion seven-year term loan B-5 (B2/B) at SOFR plus 450 basis points, the low end of the SOFR plus 450 bps to 475 bps talk, according to a market source.

The term loan still has a 0% floor and an original issue discount of 99.

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.

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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