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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
BlackRock Financial Management Provides $300MM Term Loan to Root
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Lenders/Participants
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BlackRock Financial Management [Lender]
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Structure
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Term Loan
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Amount
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$300.000
Million
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Borrower(s)
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Root Insurance Company
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Description
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The five-year, $300 million term loan will carry an interest rate of term SOFR + 9%. In conjunction with the term loan, Root issued BlackRock warrants equal to 2% of all issued and outstanding shares on a diluted basis at an exercise price of $9.00 per share which carry an expiration date of the earlier of the maturity of the term loan or the full cash repayment of the term loan.
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Industry
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Insurance
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| Related Tags |
BlackRock
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ABL Advisor
Deal Tables
2024
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