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TAMPA, Fla .– (BUSINESS WIRE) – BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP) today announced that its subsidiary Baldwin Risk Partners, LLC (“BRP LLC” ) is seeking to enter into an additional term loan facility amendment to its existing credit agreement (the “Credit Agreement”) under which BRP LLC is expected to borrow $ 250 million of new B term loans (the “New Term Loan B ”) under the Agreement, which would increase the total principal amount of its existing senior secured term loan facility maturing in 2027 (the“ Existing B Term Loan ”) by $ 500 million. from $ 750 million.
BRP LLC intends to use the net proceeds of the New B Term Loan to repay certain revolving credit loans under the Credit Agreement and for general corporate purposes, including acquisitions and permitted investments in under the credit agreement.
The foregoing transaction is subject to market and other conditions. Therefore, there can be no assurance that BRP LLC will be able to complete the transaction, on the terms described above, or not at all.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution company providing tailored insurance and risk management information and solutions that give our clients the peace of mind to pursue their goal, their passion and their dreams. We innovate in the industry by taking a holistic and personalized approach to risk management, insurance and employee benefits, and support our clients, colleagues, partner insurance companies and communities through the deployment of resources and capital from before. -guard to stimulate our growth. BRP Group represents more than 700,000 clients in the United States and abroad. For more information, please visit www.baldwinriskpartners.com.
NOTE CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent the expectations or beliefs of Groupe BRP regarding future events. Forward-looking statements are statements other than historical facts and may include statements that relate to future operational, financial or business performance or the strategies or expectations of BRP Group. In some cases, you may identify such statements by forward-looking words such as “could”, “could”, “will”, “should”, “,” predicted “,” plans “,” potential “,” prospects “or” continue ”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on the current expectations and beliefs of management and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such statements.
Factors that could cause actual results or performance to differ from expectations expressed or implied in these forward-looking statements include, without limitation, those described under the heading “Risk Factors” in the BRP Group’s annual report on Form 10-K for the fiscal year ended December 31, 2020, Groupe BRP’s quarterly reports on Form 10-Q for the nine-month period ended September 30, 2021 and other documents filed by Groupe BRP with the SEC, which are available free of charge on the Securities and Exchange Commission website at: www.sec.gov. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those shown. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Groupe BRP or persons acting on behalf of Groupe BRP are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements are only valid as of the date on which they are made, and Groupe BRP assumes no obligation to update them in light of new information, future developments or otherwise, unless applicable law so requires. required.
RELATIONS WITH INVESTORS
Bonnie Bishop, Executive Director
Baldwin Risk Partners
(813) 259-8032 | [email protected]
Rachel DeAngelo, Communications Manager
Baldwin Risk Partners
(813) 387-6842 | [email protected]
Source: BRP Group, inc.