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Ryan Specialty Group ( (RYAN) ) has shared an update.
Ryan Specialty, LLC, a subsidiary of Ryan Specialty Holdings, Inc., is set to privately offer $500 million in senior secured notes to repay part of its Revolving Credit Facility, previously utilized for the $1.075 billion acquisition of US Assure. The offering targets qualified institutional buyers and certain non-U.S. persons, with the notes backed by guarantees from the Company’s wholly owned subsidiaries but not by Ryan Specialty itself. Concurrently, the Company is planning to refinance its existing $1.6 billion term loan with a new loan of up to $1.7 billion, although the success of this refinancing is not guaranteed.
For detailed information about RYAN stock, go to TipRanks’ Stock Analysis page.