Towergate Underwriting, part of the newly formed diversified insurance company, The Ardonagh Group, today launches FRAM – the first business in its new international MGA, operating in Norway, Denmark, Sweden and Finland.
Towergate Underwriting today launches Geo Specialty – a new London business with a new team of market specialists. The first market to go live is political violence, with others following throughout the year.
Last night Towergate triumphed at the British Insurance Awards where they scooped Transformational Deal of the Year Award for the Group’s refinancing led by their biggest shareholder Highbridge Principle Strategies.
KIRS Group Limited (“the Group”), the UK’s leading independent insurance intermediary group, has today confirmed the completion of the acquisitions of Direct Group and Chase Templeton, following the close of a successful £800 million sterling-equivalent bond offering.
Towergate Announces Satisfaction of Conditions for Redemption of Senior Secured Notes and Super Senior Secured Notes
KIRS Group Limited (‘KIRS’ or ‘The Group”), the UK’s leading independent insurance intermediary group, today announces that it has priced its offering of £400 million in aggregate principal amount of 8.375% Senior Secured Notes due 2023 and $520 million in aggregate principal amount of 8.625% Senior Secured Notes due 2023 (the “Notes”) following strong demand from investors in both the UK and globally.
KIRS Group Limited (“the Group”)1, the UK’s leading independent insurance intermediary group being created by HPS Investment Partners (“HPS”) and Madison Dearborn Partners (“MDP”), today announced the launch of a secured bond offering for an aggregate principal amount of £800 million, alongside committing to enter into a £90 million super senior revolving credit facility.
KIRS Midco 3 plc today announces that it has launched an offering of £800 million sterling-equivalent senior secured notes (the “Notes”) alongside committing to enter into a £90 million super senior revolving credit facility agreement between, among others, KIRS Midco 3 plc as parent, the financial institutions named therein as mandated lead arrangers, the financial institutions named therein as original lenders, Bank of America Merrill Lynch International Limited as agent and Citibank, N.A., London Branch as common security agent.
LONDON, May 24, 2017 – KIRS Finco plc, formerly TIG Finco plc, (the “Issuer”) today announced a June 23, 2017 redemption date (the “Redemption Date”) for the redemption in full of its £425,000,000 8.75% Senior Secured Notes due 2020 (the “Senior Secured Notes”) and £75,000,000 Floating Rate Super Senior Secured Notes due 2020 (the “Super Senior Secured Notes”, and together with the Senior Secured Notes, the “Notes”).