Pricing of $400 Million of Senior Secured Notes by Ryan Specialty Group

Rhea-AI Summary

Ryan Specialty Group (NYSE: RYAN) announced the pricing of $400 million in 4.375% Senior Secured Notes due 2030, set at 100% of par. The offering is expected to close on February 3, 2022, pending customary conditions. Proceeds will support general corporate purposes, including acquisitions and covering offering fees. The notes will be offered to qualified institutional buyers under Rule 144A and outside the U.S. under Regulation S. These notes are unregistered and may not be sold in the U.S. without registration or exemption.

Positive

• Successfully priced $400 million in Senior Secured Notes at 4.375% due 2030.
• Proceeds will be utilized for future acquisition opportunities and investments.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Ryan Specialty Group Holdings, Inc. (the “Parent” or “Ryan Specialty Group”) (NYSE: RYAN), a leading international specialty insurance firm, today announced that Ryan Specialty Group, LLC (the “Company”) priced an offering of $400 million in aggregate principal amount of its 4.375% Senior Secured Notes due 2030 (the “notes”). The notes were priced at 100% of par. The sale of the notes is expected to be completed on February 3, 2022, subject to customary closing conditions.

The net proceeds from the notes will be used for general corporate purposes, including future acquisition opportunities and investments, and to pay fees and expenses related to this offering.

The notes are being offered to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

The notes have not been and will not be registered under the Securities Act or any state or other jurisdiction’s securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction’s securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Ryan Specialty Group

Founded in 2010, Ryan Specialty Group (NYSE: RYAN) is a rapidly growing service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty Group provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter. Our mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Ryan Specialty Group’s current intentions, expectations or beliefs regarding the proposed notes offering. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” “will,” the negatives thereof and other words and terms of similar meaning. Forward-looking statements include all statements that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. Ryan Specialty Group does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.

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Investor Relations

Noah Angeletti

Treasurer & Head of Investor Relations

Ryan Specialty Group

ir@ryansg.com

+1 312-784-6152



Media

Alice Phillips Topping

Chief Marketing & Communications Officer

Ryan Specialty Group

Alice.Topping@ryansg.com

+1 312-635-5976

Source: Ryan Specialty Group Holdings, Inc.

FAQ

What are the Senior Secured Notes issued by Ryan Specialty Group?

Ryan Specialty Group priced $400 million in 4.375% Senior Secured Notes due 2030 to finance general corporate purposes.

When is the closing date for Ryan Specialty Group's notes offering?

The notes offering is expected to close on February 3, 2022, subject to customary closing conditions.

Who can purchase the Senior Secured Notes from Ryan Specialty Group?

The notes are offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S.

What will the proceeds from the notes be used for?

The net proceeds will support general corporate purposes, including future acquisitions and expenses related to the offering.