Trinity Acquisition, a subsidiary of Willis Towers Watson, secured a $1.25 billion revolving credit facility from a syndicate of lenders led by Barclays Bank as administrative agent.
In addition to Barclays, JPMorgan Chase Bank served as a lead arranger for the lender group. The lead arrangers were represented by Simpson Thacher.
According to a related 8-K, the facility will mature on March 7, 2022.
The proceeds of the revolving credit facility are available to refinance existing debt – $409.37 million will be used to retire all debt under a previous credit agreement with Barclays Bank dated December 16, 2011 – and for working capital, capital expenditures, permitted acquisitions and other general corporate purposes.
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