Daily News: September 20, 2013

BofA, Citibank, Others Lead Arthur J. Gallagher Credit Facility

Arthur J. Gallagher & Co. announced that it entered into a $600 million unsecured credit facility, expiring September 19, 2018, with a group of financial institutions led by Bank of Montreal, Bank of America Merrill Lynch, Barclays Bank, Citibank and JP Morgan Chase Bank.

Gallagher may also request an additional $250 million of funding capacity within the facility. Funds may be drawn for future acquisitions or general corporate purposes.

This agreement replaces a $500 million unsecured revolving credit facility that was due to expire on July 14, 2014.

Arthur J. Gallagher & Co. is an international insurance brokerage and risk management services firm.