HUB INTERNATIONAL LIMITED COMPLETES FUNDING OF $215 MILLION ADD-ON TO EXTENDED SENIOR SECURED TERM LOAN

 

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 Add Title:  HUB INTERNATIONAL LIMITED COMPLETES FUNDING OF $215 MILLION ADD-ON TO EXTENDED SENIOR SECURED TERM LOAN
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 Location:  Chicago
 Date:    2012-05-23  
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Hub International Limited (“HUB”) today announced that it funded a $215 million incremental senior secured term loan due June 2017. The incremental term loan was priced at LIBOR plus 450 basis points with no floor and a 99.0 original issue discount.

Proceeds of the incremental term loan were used to refinance the non-extended term loans due June 2014. Consistent with HUB’s existing senior secured credit facility, HUB’s obligations in respect to the incremental term loan will be guaranteed by all direct and indirect domestic subsidiaries of HUB.

The Joint Bookrunners for the incremental term loan were Morgan Stanley Senior Funding, Inc. (“MSSF”), as Sole Lead Arranger, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC.

Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States, Canada and Brazil.

 

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CONTACT:
MEDIA CONTACTS:
Scott Goodreau
Hub International Limited
Chief Legal Officer
Phone: 312-279-4886
scott.goodreau@hubinternational.com

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 SOURCE :   HUB International Limited