Ryan Specialty increases and calculates new term loans

Ryan Specialty Holdings, Inc. (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance company, today announced that Ryan Specialty, LLC (the “Company”), an indirect subsidiary of Ryan Specialty, has successfully reached agreement with lenders to (a) refinance its existing term loan facility and (b) increase the term loan facility (the “Incremental Term Loan”), bringing the total size of the term loan facility to $1.7 billion upon closing (the “Term Loan Facility”), subject to customary closing conditions.

Proceeds from the Incremental Term Loan are expected to be used to reduce outstanding borrowings under the Company’s revolving credit facility. The Term Facility is expected to bear interest at a rate of SOFR plus 2.25%, representing a 50 basis point improvement over the existing Term Facility. The maturity date of the Term Facility is expected to be extended to 2031. Closing of the Term Loan transaction is expected to occur on Friday, September 13, 2024. Additional information regarding this transaction will be available following closing of the Term Facility.