Financing ·
Aon plc announced the entry into a $4 billion unsecured delayed draw term loan credit agreement and a new $3 billion…
AONAon plc
Aon plc announced the entry into a $4 billion unsecured delayed draw term loan credit agreement and a new $3 billion unsecured revolving credit facility on September 18, 2026. The term loans consist of two tranches: a two-year $2 billion facility maturing in September 2028 and a three-year $2 billion facility maturing in September 2029. Proceeds will fund the cash consideration for Aon North America Inc.'s acquisition of USI Advantage Corp., as outlined in the merger agreement dated August 30, 2026. The new revolving credit facility replaces two prior facilities totaling $2 billion and matures on September 18, 2031. Financial covenants require a consolidated adjusted EBITDA to interest expense ratio of at least 4.00 to 1.00 and limit the funded net debt to adjusted EBITDA ratio to 4.75 to 1.00 post-acquisition, stepping down to 3.50 to 1.00 over eight quarters. Aon plc operates in the insurance brokerage and consulting industry.