Brown & Brown closes $4.2B multi-tranche note offering to fund RSC acquisition

BROWN & BROWN, INC.

Issued $4.2B in six tranches: 4.600% due 2026 ($400M) through 6.250% due 2055 ($1B); net proceeds ~$4.2B.
Proceeds, plus equity and cash, to fund cash consideration for RSC Topco acquisition (announced June 10, 2025).
Special mandatory redemption at 101% if RSC deal not closed by March 10, 2026 (extendable to June 10, 2026) for all but 2035 notes.
2035 notes ($1B at 5.550%) not subject to special redemption; if deal fails, proceeds used for general corporate purposes.
Underwriting agreement with BofA Securities and J.P. Morgan as representatives.

item 1.01item 2.03item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.