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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Blue Owl Leads $400MM Incremental Debt Financing for PCF Insurance Services
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Lenders/Participants
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Blue Owl [Lead Lender]
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Structure
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Delayed Draw Term Loan
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Amount
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$400.000
Million
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Borrower(s)
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PCF Insurance Services
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Description
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$400 million in incremental debt financing led by Blue Owl, a global alternative asset manager that acted as lead arranger and administrative agent. The financing was materially oversubscribed and was upsized from $300 million to $400 million in response to strong demand from new and existing lenders. In addition, the company reduced the margin on the majority of its debt by 50 basis points, which will represent a significant annual savings in ongoing interest expense. The deal includes a delayed draw term loan to support M&A that will be pari passu and mature concurrently with the company's existing secured credit facilities. PCF Insurance last accessed the capital markets in July 2023, when it secured $400 million in incremental debt financing, which was also led by Blue Owl, and in February 2023 with a $500 million preferred equity investment co-led by Carlyle's Global Credit platform and private equity firm HGGC. Blue Owl and Crescent Capital, both of which have existing minority equity stakes in the business, also participated in the preferred equity transaction.
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Industry
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Insurance
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Location
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UT
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| Related Tags |
Blue Owl, Insurance
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ABL Advisor
Deal Tables
2025
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