BroadStreet launches $735 million term B-3 at SOFR plus 400-425 bps

By Sara Rosenberg

New York, April 24 – BroadStreet Partners Inc. launched on its lender call a $735 million incremental term loan B-3 due January 2029 (B) that is talked at SOFR plus 400 basis points to 425 bps with a 0% floor and an original issue discount of 98, according to a market source.

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

RBC Capital Markets and BMO Capital Markets are the lead arrangers on the deal.

Commitments are due at noon ET on May 2, the source added.

Proceeds will be used to support a new core agency partnership.

BroadStreet is a Columbus, Ohio-based insurance broker.

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