USI Holdings refinances credit |
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Published
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Tue, 10 Apr 2007 23:28
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BRIARCLIFF MANOR, N.Y. (AP) - Insurance company USI Holdings Corp. said Tuesday it would refinance its existing secured credit facilities with a new senior secured credit facility.The new facility will include a $525 million senior secured term loan and a $100 million senior secured revolving credit facility.The proceeds of the loan will also finance a merger that will make USI Holdings a subsidiary of Compass Acquisition Holding Corp., USI said.USI Holdings shares closed unchanged at $16.89 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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