Update On Debt Issuance
08 June 2018
Further to its 01 June 2018 announcement, the Ardonagh Group (the “Group”) confirms the successful issuance of £98.3 million in aggregate principal amount of its 8.325% senior secured notes due 2023. The proceeds will be used for the repayment of existing indebtedness under the Group’s revolving credit facility and for general corporate purposes, including further investments in the business.
The new notes are fungible with the Group's existing 8.325% senior secured notes due 2023.
Notes to Editors
ABOUT THE ARDONAGH GROUP
The Ardonagh Group is the UK’s largest independent insurance broker with global reach. We are a network of over 100 office locations and a workforce of 6,000 people. The Ardonagh Group was created in June 2017, bringing together Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate, with the additional acquisitions of Healthy Pets in August 2017, and Carole Nash and Mastercover announced in December 2017. Our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver solutions that meet our customer needs.