Baldwin Risk Partners launches $100 million term loan at 99.05 OID

By Sara Rosenberg

New York, Sept. 7 – Baldwin Risk Partners LLC was scheduled to hold a lender call at 3 p.m. ET on Thursday to launch a fungible $100 million add-on term loan B due October 2027 that is talked with an original issue discount of 99.05, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 350 basis points with a 0.5% floor.

CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

JPMorgan Chase Bank is the left lead on the deal.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to repay some revolving credit facility borrowings and for general corporate purposes.

Baldwin Risk, a subsidiary of BRP Group Inc., is a Tampa, Fla.-based insurance distribution firm.

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