---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-009009"
form_type: "8-K"
ticker: "WTW"
cik: "0001140536"
company_name: "WILLIS TOWERS WATSON PLC"
filed_at: "2026-01-09T23:59:59+00:00"
generated_at: "2026-05-16T11:01:53.725688+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-009009
- form_type: 8-K
- ticker: WTW
- cik: 0001140536
- company_name: WILLIS TOWERS WATSON PLC
- filed_at: 2026-01-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140536/000119312526009009/0001193125-26-009009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140536/000119312526009009/d80722d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-009009
- JSON: https://secwatch.observer/filing/0001193125-26-009009.json
- Plain text: https://secwatch.observer/filing/0001193125-26-009009.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140536/000119312526009009/0001193125-26-009009-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140536/000119312526009009/0001193125-26-009009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.