Proceeds will fund the broker’s acquisition of Noraxis Capital Corporation and pay down borrowings
Arthur J Gallagher has completed a purchase agreement for the private placement of $700m (£412m) of senior unsecured notes.
The agreement provides for six series of notes with a weighted average rate of 4.02% and maturities as follows: $50m due in 2018, 2019 and 2020, $200m due in 2023, $200m due in 2025 and $150m due in 2026.
In an announcement yesterday the company said it intended to use the proceeds to fund its previously announced acquisition of Noraxis Capital Corporation and pay down borrowings under its line of credit facility.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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