Willis Towers Watson Secures $775 Million Term Loan for Newfront Acquisition and Refinancing
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Willis Towers Watson plc has secured a $775 million delayed draw term loan facility to fund its acquisition of Newfront Insurance Holdings, Inc. The loan, arranged with JPMorgan Chase Bank, will also be used to refinance existing debt and for general corporate purposes. It is unsecured, allows for voluntary prepayment, and includes various financial covenants and restrictions. The loan matures on the earlier of three years from borrowing or three years post-acquisition closing.
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