Ryan Specialty proposes $500M senior secured notes offering; plans $1.7B term loan refinancing

RYAN SPECIALTY HOLDINGS, INC.

Ryan Specialty, LLC offers $500M senior secured notes due 2032 to repay revolving credit borrowings used for US Assure acquisition.
Concurrently, company commences refinancing existing $1.6B term loan with new up to $1.7B term loan facility.
US Assure acquisition was consummated on Aug 30, 2024 for approx $1.075B.
Notes are secured by substantially all assets that secure existing notes/credit facilities; not guaranteed by parent Ryan Specialty Holdings.
Offering is private to QIBs and non-US persons under Rule 144A/Reg S; no registration under Securities Act.

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