Liberty Co. Insurance Brokers closes on $340 million refinancing

By Mary-Katherine Stinson

Lexington, Ky., Aug. 18 – Liberty Co. Insurance Brokers announced the completion of a $340 million refinancing transaction on July 31, according to a press release.

The oversubscribed deal is made up of a $30 million revolving credit facility, a $180 million term loan and a $130 million delayed-draw term loan.

JPMorgan serves at administrative agent and along with Fifth Third Bank and Royal Bank of Canada was a joint lead arranger. Additionally, Bank of America, Citibank, TD Bank and InsurBanc are also lenders in the facility.

In addition to mergers and acquisitions activity, Liberty intends to use the proceeds to build out its resources to drive more organic growth though practice groups and industry specializations, managing general agent program offerings, employee benefit and human capital management resources, risk management services and other initiatives.

Liberty Co. is a privately-held insurance brokerage based in Woodland Hills, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.