Further to its 13 October 2017 announcement confirming it had secured funding for the acquisition of Carole Nash, the Group confirms that the gross proceeds from the previously announced issuance of £55 million in aggregate principal amount of our 8.375% Senior Secured Notes due 2023 have closed into escrow.
We expect to retain the notes proceeds in escrow pending the completion of Ardonagh's acquisition of Carole Nash. On the acquisition completion date, the additional £55 million of senior secured notes will be fungible with the Group's existing GBP senior secured notes issued 20 June 2017.
Media Queries Internal & External Contact
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Email: communications@ardonagh.com
Media Queries External Contact
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Email: communications@ardonagh.com
Latest announcements
Ardonagh to acquire Australian-headquartered and ASX-listed PSC Insurance Group in landmark A$2.3 billion transaction
The Ardonagh Group (“Ardonagh” or “the Group”), one of the world’s largest independent insurance broking platforms, today announced it has entered into a Scheme Implementation Deed (“SID”) to acquire all of the issued ordinary shares in PSC Insurance Group Limited (ASX:PSI) (“PSC”) for A$6.19 in cash per PSC Share pursuant to a scheme of arrangement.
Ardonagh to acquire Italian commercial lines business Mansutti S.r.l
The Ardonagh Group (“Ardonagh”) today announces it has agreed to acquire Mansutti S.r.l, the commercial lines business of Italian insurance broker, Mansutti S.p.A.