Trucordia Announces Completion of Comprehensive Debt Refinancing to Support Strategic Goals

• $2.5 Billion Dual-Tranche Refinancing Reduces Cost of Capital and Enhances Long-Term Financial Flexibility
• Additional $400 million Revolving Credit Facility for Future Investments and M&A 
• Refinancing Closes Concurrently with Carlyle Strategic Investment
  

LINDON, Utah, June 18, 2025 /PRNewswire/ -- Trucordia, a top-20 U.S. insurance brokerage, today announced that it has completed a comprehensive debt refinancing that significantly enhances the company's capital structure and positions it for continued growth. The transaction closes concurrently with the $1.3 billion strategic investment from Carlyle announced earlier this month.

"These transactions are transformative for Trucordia, creating new financial and governance structures that will support the company's continued growth," said Felix Morgan, Chief Executive Officer of Trucordia. "They reflect both the significant work we have done in the last four years to build the nation's next great insurance brokerage and the confidence in our strategy to accelerate our success."

The refinancing includes a $1.94 billion first lien term loan B, as well as a $548 million second lien term loan B with Blue Owl Capital. In conjunction with the loans, Trucordia will have a $400 million revolving credit facility to support future investments. The proceeds from the refinancing replace the company's existing unitranche debt, significantly improving the company's cost of capital and long-term financial flexibility.

In the first half of 2025, Trucordia completed 5 strategic acquisitions, executed its new platform operating model to capture economies of scale and improve enterprise value, and continued the roll-out of its new brand to the company's more than 200 offices. Trucordia has more than 5,000 team members operating across the United States delivering exceptional insurance solutions and client service.

JPMorgan Chase served as financial advisor. JPMorgan Chase will serve as administrative agent for the revolving credit facility. Orrick served as legal counsel to Trucordia. 

SOURCE Trucordia