Ardonagh completes £2bn debt raise and deals for Bravo Group and Arachas
The move, announced in June, brings Broker Network back into the fold as Ardonagh confirms £300m war chest to fund future deals.
The Ardonagh Group has completed its £2bn debt raise along with the purchases of Broker Network-owner Bravo Group and Irish broker Arachas for a combined value of over £550m.
The business stated that it has raised £1.575bn through a unitranche facility and £400m through senior PIK [payment-in-kind] toggle notes.
It also confirmed that it now has access to a £300m war chest to fund future growth plans.
The move was first announced in June, and both the unitranche facility and the capital
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