Ryan Specialty to sell $400 million eight-year secured notes on Friday; initial talk 4¾%-5%

By Paul A. Harris

Portland, Ore., Jan. 20 – Ryan Specialty Group Holdings, Inc. is expected to price a $400 million offering of eight-year senior secured notes (B1/BB-) on Friday, according to market sources.

Initial guidance has the deal coming to yield 4¾% to 5%.

J.P. Morgan Securities LLC is the lead.

The Rule 144A and Regulation S notes come with three years of call protection.

The Chicago-based wholesale insurance broker and managing underwriter plans to use the proceeds for general corporate purposes, including future acquisition opportunities and investments.

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