Ryan Specialty Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Dec. 31, 2024

The following table is a summary of the Company’s outstanding debt:


	As of December 31,
	2024	2023
Term debt
7-year term loan facility, periodic interest and quarterly principal payments, Adjusted Term SOFR + 2.25% as of December 31, 2024, Adjusted Term SOFR + 3.00% as of December 31, 2023, matures September 13, 2031	$1,672,532	$1,564,718
Senior secured notes
8-year senior secured notes, semi-annual interest payments, 4.38%, mature February 1, 2030	401,676	400,704
8-year senior secured notes, semi-annual interest payments, 5.88%, mature August 1, 2032	1,198,183	—
Revolving debt
5-year revolving loan facility, periodic interest payments, Adjusted Term SOFR + up to 2.50% as of December 31, 2024, Adjusted Term SOFR + up to 3.00% as of December 31, 2023, plus commitment fees of 0.25%-0.50%, matures July 30, 2029	1,207	377
Premium financing notes
Commercial notes, periodic interest and principal payments, 6.25%, expire May 1, 2025	2,673	—
Commercial notes, periodic interest and principal payments, 6.25%, expire June 1, 2025	548	—
Commercial notes, periodic interest and principal payments, 6.25%, expire June 21, 2025	2,642	—
Commercial notes, periodic interest and principal payments, 5.75%, expired May 1, 2024	—	2,251
Commercial notes, periodic interest and principal payments, 5.75%, expired June 1, 2024	—	622
Commercial notes, periodic interest and principal payments, 6.00%, expired June 19, 2024	—	2,485
Commercial notes, periodic interest and principal payments, 5.75%, expired June 21, 2024	—	2,855
Units subject to mandatory redemption	3,399	5,200
Total debt	$3,282,860	$1,979,212
Less: Short-term debt and current portion of long-term debt	(51,732)	(35,375)
Long-term debt	$3,231,128	$1,943,837

Schedule of Future Maturities of Long-term Debt

The future maturities of long-term debt, which excludes premium financing notes, as of December 31, 2024, were as

follows:


2025	$45,869
2026	17,000
2027	17,000
2028	17,000
2029	17,000
Thereafter	3,218,316
Total repayments	$3,332,185
Less: Unamortized discounts and debt issuance costs	(55,188)
Total	$3,276,997

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details