Simpson Thacher represented AssuredPartners, Inc. in connection with its inaugural bond offering of $500 million aggregate principal amount of 7% Senior Notes due 2025 pursuant to Rule 144A and Regulation S, which closed on August 2, 2017. AssuredPartners intends to use the net proceeds, together with cash on hand, to repay in full all indebtedness outstanding under, and terminate, its second lien term loan facility, to repay certain indebtedness outstanding under its revolving credit facility and to pay all related fees and expenses.
AssuredPartners is one of the largest full-service insurance brokers in the United States, offering a broad range of property and casualty and employee benefits insurance products and services to middle-market businesses, public institutions and high-net worth individuals, with approximately 130 offices in 32 states across the United States, the District of Columbia and the United Kingdom.
The Simpson Thacher team included, among others, Kenneth Wallach, Hui Lin, Tony Rim and Michael Yan (Capital Markets); Jonathan Cantor and Michael Badain (Tax); and Larry Moss and Eric Wolf (Executive Compensation and Employee Benefits). Summer Associates Janet Kanzawa and Rui Xie also provided valuable assistance.