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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
SunTrust, Citizens Bank Provide $165MM Term Loan to ProSight Global
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Lenders/Participants
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SunTrust Robinson Humphrey [Joint Lead Arranger]
Citizens Bank [Joint Lead Arranger]
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Structure
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Delayed Draw Term Loan
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Amount
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$165.000
Million
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Borrower(s)
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ProSight Global, Inc.
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Description
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The $165 million delayed draw term loan has a three-year maturity and includes available interest rates linked to customary base rates and to LIBOR, and if drawn upon today would bear interest at LIBOR +300bps subject to a 75bp LIBOR floor based on ProSight's current debt to capitalization ratio. The existing $165 million private placement notes have a weighted average coupon of 7.35%. ProSight will use the new facility to repay the 2013 and 2015 senior notes in full when due in November, 2020.
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Industry
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Insurance
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Location
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NJ
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| Related Tags |
Citizens Bank, SunTrust Robinson Humphrey
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ABL Advisor
Deal Tables
2025
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