Confie Seguros to launch $590 million term loan B on Wednesday

By Sara Rosenberg

New York, Sept. 19 – Confie Seguros Holding II Co. is set to hold a bank meeting on Wednesday to launch a $590 million 5.5-year term loan B, according to a market source.

RBC Capital Markets LLC, Antares, Goldman Sachs Bank USA and Barclays are the joint lead arrangers on the deal.

The term loan B has a financial maintenance covenant.

Commitments are due on Sept. 30, the source said.

Proceeds will be used to refinance in full the company’s existing first- and second-lien term loans.

Other funds for the transaction will come from $350 million in six-year unsecured notes that will launch with a roadshow early next week and will price at the end of the week, the source added.

Confie Seguros, an ABRY Partners portfolio company, is a Buena Park, Calif.-based personal lines insurance broker.

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