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BRP unit amends senior revolving credit facility

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BRP unit amends senior revolving credit facility

BRP Group Inc. unit Baldwin Risk Partners LLC has increased the capacity of its senior revolving credit facility to $225 million from $125 million.

The unit also can take advantage of an accordion feature to further increase the committed line under the credit facility by an additional $75 million to $300 million, subject to approval.

Under the amended and restated senior revolving credit facility, borrowings initially accrue interest on amounts drawn at the London interbank offered rate plus 200 basis points.

JPMorgan acted as sole book runner and lead arranger and will serve as administrative agent and lender under the revolving credit facility. Wells Fargo, Bank of America, Cadence Bank and Wintrust Financial are serving as additional lenders.