Summary
Brown & Brown, Inc. (BRO) announced on June 5, 2026, the execution of a Third Amended and Restated Credit Agreement. This significant update to their financing structure substantially increases their available credit capacity and extends maturity dates, providing greater financial flexibility for future growth and operations. The agreement demonstrates continued support from a syndicate of major financial institutions. Key changes include an increase in the revolving credit facility from $800 million to $1,250 million, with an extended maturity to June 5, 2031. Additionally, the Company has secured new term loan facilities totaling $500 million ($250 million each for Term A-1 and Term A-2 loans) with maturities in 2029 and 2031, respectively. These enhancements underscore Brown & Brown's strategic positioning to access capital for its ongoing business development initiatives.
Key Highlights
- 1Brown & Brown, Inc. entered into a Third Amended and Restated Credit Agreement on June 5, 2026.
- 2The total revolving credit facility was increased from $800 million to $1,250 million.
- 3The revolving credit facility maturity date has been extended to June 5, 2031.
- 4The Company secured new term loan facilities totaling $500 million ($250 million Term A-1 and $250 million Term A-2).
- 5The Term A-1 Loan Facility matures on June 5, 2029, and the Term A-2 Loan Facility matures on June 5, 2031.
- 6As of the filing date, $825 million was outstanding under the new credit facilities.