Ryan Specialty Successfully Reprices Term Loan, Lowers Cost of Capital
CHICAGO--(BUSINESS WIRE)-- Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance firm, today announced the successful repricing of its $1.65 billion term loan debt (“Term Loan”), which is expected to reduce its annual cash interest expense by approximately $5.6 million.
The repriced Term Loan bears an interest rate of SOFR plus 2.75%, an improvement of 25 basis points from the prior Term Loan, and no longer contains a Credit Spread Adjustment. The Term Loan’s maturity date of September 2027 and other material provisions remain unchanged.
Forward-Looking Statements
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About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. ryanspecialty.com
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Investor Relations
Nicholas Mezick
Director, Investor Relations
Ryan Specialty
IR@ryanspecialty.com
(312) 784-6152
Media Relations
Alice Phillips Topping
Chief Marketing & Communications Officer
Ryan Specialty
Alice.Topping@ryanspecialty.com
(312) 635-5976
Source: Ryan Specialty Holdings, Inc.
Released January 19, 2024