Acrisure readies launch of $100 million add-on term loan for Monday

By Sara Rosenberg

New York, Dec. 4 – Acrisure LLC is set to hold a lender call on Monday to launch a fungible $100 million add-on term loan, according to a market source.

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

Price talk on the add-on loan is Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 97, the source said.

With the add-on, the company will lift pricing on its existing term loan to Libor plus 550 bps with a 1% Libor floor from Libor plus 425 bps with a 1% Libor floor.

All of the term loan debt will get 101 soft call protection for six months, the source added.

Proceeds will be used to fund acquisitions.

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

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