The Florida Peninsula Insurance family of companies has closed on $70 million of senior credit facilities. Regions Bank led the transaction, and Synovus was a joint lead arranger. The facilities consisted of a $40 million term loan, a $20 million delayed draw term loan, and a $10 million line of credit. At closing, $40 million was allocated to refinance a previous senior credit facility and subordinated notes. The delayed draw term loan will fund growth in Florida Peninsula and its wholly owned subsidiary Edison Insurance Company.
Published first on TheFly
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