New Issue: Acrisure prices upsized $400 million seven-senior notes at par to yield 10 1/8%

By Paul A. Harris

Portland, Ore., July 18 – Acrisure, LLC priced an upsized $400 million issue of seven-year senior notes (Caa2/CCC+) at par to yield 10 1/8% on a Thursday, according to a market source.

The issue size was increased from $300 million.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The Caledonia, Mich.-based insurance brokerage plans to use the proceeds to fund acquisitions and for general corporate purposes.

Issuers:	Acrisure, LLC and Acrisure Finance, Inc.
Amount:	$400 million, increased from $300 million
Maturity:	Aug. 1, 2026
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc.
Coupon:	10 1/8%
Price:	Par
Yield:	10 1/8%
Spread:	818 bps
Call protection:	Three years
Trade date:	July 18
Settlement date:	Aug. 1
Ratings:	Moody's: Caa2
	S&P: CCC+
Distribution:	Rule 144A and Registration S for life
Marketing:	Roadshow

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