Simpson Thacher represented JPMorgan Chase Bank, N.A., as lead arranger in connection with Trucordia Insurance Holdings, LLC’s (“Trucordia”) entry into new first lien credit facilities consisting of (i) a $400 million 5-year revolving credit facility and (ii) a $1.94 billion 7-year term loan B facility. The proceeds of the facilities will be used, together with proceeds from a new second lien credit facility and an equity investment by The Carlyle Group, to refinance Trucordia’s existing debt facilities, redeem certain existing equity interests and fund cash to the balance sheet.
Trucordia is an insurance company operating 200 offices across 40 states and employing more than 5,000 people. Trucordia manages an excess of $8 billion in premium volume and delivers commercial and personal insurance and risk management solutions.
The Simpson Thacher team included Dan Kay, Robert Meyer, Alexander Kleinhaus-Resisi, Aaron Gurley and Colin Dennis (Credit); Jonathan Pall (Collateral); Marisa Geiger and Courtney Welshimer (IP); Michael Mann (Tax); Jeanne Annarumma (ECEB); Michael Isby (Environmental); and Claire Cahoon (Regulatory).