GRAND RAPIDS–Acrisure LLC and Acrisure Finance Inc. announced the pricing of $550 million in senior notes due in 2032 at an interest rate of 6.75%.
The company said it intends to use a portion of the proceeds from the notes, along with new loans of $1.8 billion and cash on hand to refinance all outstanding 2024 Repricing Term B-1 Loans dated Nov. 22, 2016, repay all outstanding revolving credit loans, fund future acquisitions and pay related fees and expenses.
The notes will be guaranteed by Acrisure Intermediate Inc. and each of its existing and future wholly owned domestic restricted subsidiaries to the extent such subsidiary guarantees the company’s senior secured credit facilities, existing secured notes and existing unsecured notes.
The notes offering is expected to close on June 20, subject to customary closing conditions.
Acrisure is a fintech company offering insurance, reinsurance, payroll, benefits, cybersecurity, real estate services. In the last 11 years, Acrisure has grown in revenue from $38 million to almost $5 billion and employs over 19,000 people in 23 countries.
More at www.acrisure.com.