Hub International Limited Announces Completion of $200 Million Incremental Term Loan.CHICAGO -- Hub International Hub International Limited is an insurance brokerage based in Chicago, Illinois. The company has 200+ offices across the United States and Canada. The company offers three types of commercial products and services: property and casualty products, employee benefits and risk Limited ("HUB") today announced that it completed and funded a $200 million incremental senior secured term loan under its existing senior secured credit facility. Consistent with HUB's existing senior secured credit facility, HUB's obligations in respect of the incremental term loan will be guaranteed by all direct and indirect domestic subsidiaries of HUB. HUB intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering for general corporate purposes, including possible acquisitions. The Joint-Lead Arrangers and Joint Bookrunners for the offering were Morgan Stanley Senior Funding, Inc. ("MSSF MSSF Mycological Society of San Francisco MSSF Multi Service Switching Forum ") and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Merrill Lynch ("BofA Merrill"). Headquartered in Chicago, IL, Hub International Limited is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. insurance brokerage that provides a broad array of property and casualty, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada. Forward-looking Statements This press release may contain certain statements relating to future events, which are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are based on information currently available to the Company and are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in, or implied by, these statements, including, but not limited to, general economic conditions in North America, changes in premium rates, the competitive environment, the actual cost of resolution of contingent liabilities, and those matters discussed under "Risk Factors" in Part I of the Company's Annual Reporting Package as of and for the year-ended December 31, 2008. Forward-looking statements contained herein speak only as of the date made, and, thus, the Company undertakes no obligation to update or publicly announce the revision of any of these forward looking statements to reflect new information, future events, developments, or changed circumstances for any reason. |
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