Acrisure readies launch of $410 million term loan for Tuesday

By Sara Rosenberg

New York, April 24 – Acrisure, LLC is scheduled to hold a bank meeting on Tuesday to launch a $410 million term loan, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99, the source continued.

The term loan has 101 soft call protection for six months.

The company’s new credit facility will also include a revolver.

Proceeds will be used to refinance existing debt and fund an acquisition.

Acrisure, a Genstar Capital portfolio company, is a Caledonia, Mich.-based retail insurance brokerage.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.