Ryan Specialty reprices $1.65B term loan, cuts rate 25 bps to SOFR+2.75%, saves ~$5.6M/yr

RYAN SPECIALTY HOLDINGS, INC.

Term loan interest rate reduced from SOFR+3.00% to SOFR+2.75%; credit spread adjustment eliminated.
Expected annual cash interest savings of approximately $5.6 million.
Maturity date of September 2027 and all other material terms remain unchanged.
Repricing executed via fifth amendment to credit agreement with JPMorgan-led syndicate.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RYAN SPECIALTY HOLDINGS, INC. amended Repricing Amendment with JPMorgan Chase Bank, N.A., as administrative agent, and a syndicate of commercial lenders (effective 2024-01-19).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and a syndicate of commercial lenders
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, a wholly owned subsidiary of Ryan Specialty Holdings, Inc.(the “Company”), Ryan Specialty, LLC, the borrower, entered into the fifth amendment (the “Repricing Amendment”) to the credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and a syndicate of commercial lenders from time-to-time party thereto dated as of September 1, 2020, as amended.

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RYAN SPECIALTY HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-005584

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