Ardonagh raising $225m debt for deals
Finance to cover Swinton takeover and more.
Ardonagh Group has launched a $225m [£175.8m] new debt round to pay for buying Swinton as well as “general corporate purposes including acquisitions”.
The new bond will mirror previous offerings and the pricing is expected to be confirmed in the next five days and close within two weeks.
Ardonagh agreed in September to buy Swinton for £165m saying it would pay for the takeover via finance and “cash from monetising certain Swinton assets”.
As revealed by Insurance Age Ardonagh then sealed a
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