Howden reprices around $4.1bn debt, saving $8m a year
Howden Group has confirmed a debt repricing of around $4.1bn (£3.05bn), saving approximately $8m a year, in a transaction that completed on 8 August.
The broker repriced its $3.1bn Term Loan B due 2031 and its £765m Revolving Credit Facility (RCF).
Mark Craig, group chief financial officer of Howden, said: “I’m delighted that we’ve achieved one of the tightest pricing levels for leveraged loans by an insurance broker in this ratings category, as Howden continues to be well-supported by the capital markets. Being able to make our borrowing more efficient puts us in an even stronger position to continue delivering on our ambitious growth plans.
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