Baldwin Insurance Group, Inc. (BWIN): debt financing — BRP Group subsidiary enters $170M incremental term loan facility, raises total term loans to $1.02B

Baldwin Insurance Group, Inc.

Baldwin Risk Partners borrows $170M incremental Term Loan B under amended Credit Agreement, increasing existing term facility from $850M to $1.02B.
Proceeds used to repay certain revolving loans; remaining for general corporate purposes of BRP LLC and subsidiaries.
Amendment dated Sept 15, 2023; lenders include JPMorgan, Wells Fargo, BofA Securities, Capital One, Raymond James, Morgan Stanley, Cadence Bank, SouthState.
Incremental Term Loan B subject to substantially same terms as existing term loans maturing in 2027.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Baldwin Insurance Group, Inc. incurred term loan of $170 million with JPMorgan Chase Bank, N.A..

Instrument: term loan
Principal: $170 million
Counterparty: JPMorgan Chase Bank, N.A.
Event: incurrence

Exact text from the filing

a new senior secured first lien incremental term loan facility in an aggregate principal amount of $170 million

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

Baldwin Insurance Group, Inc. amended Amendment No. 7 to the Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent valued at $170 million (effective 2023-09-15).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Value: $170 million
Effective: 2023-09-15

Exact text from the filing

Baldwin Risk Partners, LLC (“BRP LLC”), a subsidiary of BRP Group, Inc., as borrower, entered into an Amendment No. 7 to the Credit Agreement (as defined below) (the “Amendment”) with JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”), certain material subsidiaries of BRP LLC (together with BRP LLC, the “Loan Parties”), as guarantors, and the several banks, financial institutions, institutional investors and other entities party thereto as lenders

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Baldwin Insurance Group, Inc. filing history →

Source: SEC EDGAR

accession 0001781755-23-000032

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