PIB completes £200m debt refinancing

Bag of money

PIB Group has completed a debt refinancing of £200m to fund future deals and support organic growth, Insurance Age can reveal.

The refinancing was led by KKR & Co and Apollo and the other lenders are Bain Capital, Bridgepoint Credit, Butterfield Bank and RBS NatWest.

PIB chief financial officer Ryan Brown told Insurance Age that one of the reasons for the refinance was that the business had outgrown the capability of its old club of lenders.

“We’ve looked to refinance with a group of lenders,

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