Aon signs USD 4 billion delayed-draw term loan to fund USI Advantage acquisition
AON•Aon signs new delayed-draw term loan
Aon signed a USD 4 billion unsecured delayed-draw term loan credit agreement with Citibank as administrative agent.
The facilities are split into a USD 2 billion two-year tranche maturing Sept. 18, 2028, plus a USD 2 billion three-year tranche maturing Sept. 18, 2029.
Funding for USI Advantage acquisition and new revolving facility
The loans will fund part of the cash consideration for Aon North America’s planned acquisition of USI Advantage, plus related fees.
Aon also entered a new USD 3 billion unsecured revolving credit facility, replacing two prior USD 1 billion revolvers. The new revolver matures Sept. 18, 2031, with optional one-year extensions; both agreements include leverage and interest-coverage covenants.
