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CHICAGO--(BUSINESS WIRE)-- Hub International Limited (HUB) today announced that it completed and funded a $200 million incremental senior secured term loan under its existing senior secured credit facility. Consistent with HUB's existing senior secured credit facility, HUB's obligations in respect of the incremental term loan will be guaranteed by all direct and indirect domestic subsidiaries of HUB.
HUB intends to use the net proceeds of the offering for general corporate purposes, including possible acquisitions.
The Joint-Lead Arrangers and Joint Bookrunners for the offering were Morgan Stanley Senior Funding, Inc. (MSSF) and Bank of America Merrill Lynch (BofA Merrill).
Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, reinsurance, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada.
Forward-looking Statements
This press release may contain certain statements relating to future events, which are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available to the Company and are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in, or implied by, these statements, including, but not limited to, general economic conditions in North America, changes in premium rates, the competitive environment, the actual cost of resolution of contingent liabilities, and those matters discussed under Risk Factors in Part I of the Company's Annual Reporting Package as of and for the year-ended December 31, 2008. Forward-looking statements contained herein speak only as of the date made, and, thus, the Company undertakes no obligation to update or publicly announce the revision of any of these forward looking statements to reflect new information, future events, developments, or changed circumstances for any reason.
Hub International Limited
Daniel Goldsmith
Vice President and Chief Financial Officer
Phone: 312.279.4840
Daniel.goldsmith@hubinternational.com
Source: Hub International Limited
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