Acrisure launches $400 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, May 31 – Acrisure Holdings Inc. held a lender call on Thursday to launch a $400 million incremental term loan B (B) due November 2023 that is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.875, according to a market source.

The incremental loan has 101 soft call protection for six months, the source said.

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

Commitments are due on Wednesday, the source added.

Proceeds will be used to fund acquisitions.

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

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