Acrisure launches $225 million add-on term loan to investors

By Sara Rosenberg

New York, July 12 – Acrisure LLC held a lender call on Tuesday to launch a fungible $225 million add-on term loan (B2), of which $145 million is delayed-draw, according to a market source.

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

Pricing on the add-on loan is Libor plus 550 basis points with a 1% Libor floor, the source said.

Included in the debt is 101 soft call protection for six months.

Commitments are due on July 19, the source added.

Proceeds will be used to fund acquisitions.

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

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