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The Baldwin Group Announces Successful Pricing of $600 Million Incremental Term Loan B Add-On
TAMPA, Fla.--(BUSINESS WIRE)-- The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (“Baldwin,” “we” or “our”) (NASDAQ: BWIN), an
About this update from The Baldwin Insurance Group, Inc.
[{"type":"text","content":" TAMPA, Fla.--(BUSINESS WIRE)--\nThe Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (“Baldwin,” “we” or “our”) (NASDAQ: BWIN), an independent insurance distribution firm delivering tailored insurance solutions to a wide range of personal and commercial Clients, today announced that its subsidiary, The Baldwin Insurance Group Holdings, LLC (“Baldwin Holdings”), successfully received commitments from lenders to enter into an incremental term loan facility amendment to its existing credit agreement (the “Credit Agreement”) pursuant to which Baldwin Holdings is expected to borrow $600 million of incremental term B loans (the “Incremental Term Loan B”) under the Credit Agreement (representing an upsize from the original $450 million launch as a result of significant investor demand), which would increase the aggregate principal amount of its existing term loan facility maturing on May 24, 2031 (the “Existing Term Loan Facility”) from $1.001 billion to $1.601 billion at the time of closing.\n\nThe Incremental Term Loan B will have the same terms as the Existing Term Loan Facility, including, for the avoidance of doubt, the same interest rates and maturity date. We expect the incurrence of the Incremental Term Loan B to close during the first quarter of 2026, subject to customary closing conditions, including the finalization and execution of definitive documentation.\n\nBaldwin Holdings intends to use the net proceeds from the Incremental Term Loan B to pay down outstanding borrowings under its revolving credit facility, for cash consideration in connection with pending acquisitions, including Baldwin’s recently announced acquisition of the CAC Group, and any remaining proceeds for general corporate purposes.\n\nThis press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in which such offer, solicitation or sale is unlawful.\n\nABOUT THE BALDWIN GROUP\n\nThe Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a t...