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Acrisure to launch $325 million add-on loan, repricing on Thursday
By Sara Rosenberg
New York, Oct. 25 – Acrisure LLC is scheduled to hold a lender call on Thursday to launch a $325 million add-on first-lien term loan and a repricing of its existing $1,846,000,000 first-lien term loan, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal.
Price talk on the term debt is Libor plus 450 basis points to 475 bps with a 1% Libor floor, the source said.
The add-on term loan is talked with an original issue discount of 99.75.
All of the term loan debt is getting 101 soft call protection for six months, the source added.
The repricing will take the existing term loan down from Libor plus 500 bps with a 1% Libor floor.
Acrisure is a Caledonia, Mich.-based insurance brokerage.
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