WTW enters $775M delayed draw term loan to finance Newfront acquisition

WILLIS TOWERS WATSON PLC

Delayed draw term loan facility of $775M, unsecured, matures 3 years from initial draw or 3 years after 2 months post-acquisition.
Proceeds used to finance portion of Newfront acquisition (announced Dec 9, 2025), refinance debt, and for working capital.
Interest rate options: Term SOFR + 0.625%-1.250% or base rate + 0%-0.250%, based on WTW's senior unsecured debt rating.
Commitment fee of 0.055%-0.140% on undrawn amounts, based on debt rating; JPMorgan Chase acts as administrative agent.
Up to four borrowings allowed during availability period ending 6 months after acquisition or upon acquisition termination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

WILLIS TOWERS WATSON PLC incurred term loan of $775,000,000 delayed draw term loan facility with JPMorgan Chase Bank, N.A. at Term SOFR rate plus an applicable margin of 0.625% to 1.250% maturing the earlier of (i) the third anniversary of the initial borrowing of loans under the Credit Facility and (ii) the third anniversary of the date that is two mont.

Instrument: term loan
Principal: $775,000,000 delayed draw term loan facility
Counterparty: JPMorgan Chase Bank, N.A.
Rate: Term SOFR rate plus an applicable margin of 0.625% to 1.250%
Maturity: the earlier of (i) the third anniversary of the initial borrowing of loans under the Credit Facility and (ii) the third anniversary of the date that is two mont
Event: incurrence

Exact text from the filing

On January 7, 2026, Willis Towers Watson Public Limited Company (“WTW”), together with its wholly owned subsidiary, Trinity Acquisition plc, a limited company formed under the laws of England and Wales (“TA”) and TA’s indirect wholly owned subsidiary, Willis North America Inc., a Delaware corporation (“WNA” and together with TA, the “Borrowers”) entered into a $775,000,000 delayed draw term loan facility (the “Credit Facility”).

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

WILLIS TOWERS WATSON PLC entered into Term Loan Credit Agreement with JPMorgan Chase Bank, N.A. valued at $775,000,000 (effective 2026-01-07).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $775,000,000
Effective: 2026-01-07

Exact text from the filing

On January 7, 2026, Willis Towers Watson Public Limited Company (“WTW”), together with its wholly owned subsidiary, Trinity Acquisition plc, a limited company formed under the laws of England and Wales (“TA”) and TA’s indirect wholly owned subsidiary, Willis North America Inc., a Delaware corporation (“WNA” and together with TA, the “Borrowers”) entered into a $775,000,000 delayed draw term loan facility (the “Credit Facility”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-26-009009

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