Brp group, inc. announces launch of $100 million term loan b add-on

Tampa, fla., may 24, 2021 (globe newswire) -- brp group, inc. (“brp group” or the “company”) (nasdaq: brp), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that its subsidiary baldwin risk partners, llc (“brp llc”) is seeking to enter into an incremental term loan facility amendment to its existing credit agreement (the “credit agreement”) pursuant to which brp llc is expected to borrow $100 million of new term b loans (the “new term loan b”) under the credit agreement, which would increase the aggregate principal amount of its existing senior secured first lien term loan facility maturing in 2027 (the “existing term loan b”) from $400 million to $500 million.
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