Hub International Limited Completes $300 Million Senior Second Lien Secured Notes Offering
02.03.16
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The Firm represented Hub International Limited (“Hub”) in connection with its Rule 144A and Regulation S offering of $300 million aggregate principal amount of 9.25% Senior Second Lien Secured Notes due 2021 (the “Notes”). The Notes and related guarantees are secured by a second priority security interest in substantially all of Hub’s and its subsidiary guarantors’ present and future assets which secure their obligations under Hub’s U.S. senior secured credit facilities on a senior-priority basis. Hub intends to use the net proceeds from the offering for general corporate purposes, including to fund future acquisitions and to pay down revolving credit loans under its U.S. senior secured credit facilities.
Hub is a leading insurance broker in North America and provides a broad array of insurance-related products and services, including property and casualty, employee benefits, life and health, and risk management.
The Simpson Thacher team included William Brentani, Ryan Coombs, Kelli Schultz and Robert Fannion (Capital Markets); Brian Steinhardt, Stephanie Rotter, Ben Baucom and Jeff Liu (Credit); Amber Harezlak (Intellectual Property); and Jonathan Pall (Collateral).