The latest announcement is out from Ryan Specialty Group (RYAN).
Ryan Specialty, a subsidiary of Ryan Specialty Holdings, Inc., leveraged its credit facility to borrow $850 million, contributing to the $1.075 billion cash purchase of US Assure Insurance Services. The acquisition, which may include an extra $400 million tied to performance targets, was financed partly through existing cash reserves. The company also secured a commitment for a $500 million bridge loan, which remained unused and was set to expire upon the acquisition’s completion. Interest on the credit facility borrowings is set at SOFR plus 2.25%, with the option for early repayment without penalties before its 2029 maturity.
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