BRP Group announced that its subsidiary Baldwin Risk Partners, LLC (“BRP LLC”) is seeking to enter into an incremental term loan facility amendment to its existing credit agreement pursuant to which BRP LLC is expected to borrow $250 million of new term B loans under the Credit Agreement, which would increase the aggregate principal amount of its existing senior secured first lien term loan facility maturing in 2027 from $500 million to $750 million.

BRP LLC intends to use the net proceeds of the New Term Loan B to repay certain revolving credit loans under the Credit Agreement and for general corporate purposes, including acquisitions and investments permitted under the Credit Agreement.