International broker wants to fund acquisitions
Arthur J Gallagher has completed a private placement of $200m (£127m) of bonds.
The company, headquartered in Illinois, US, said it intended to use the money raised to “fund acquisitions and for general corporate purposes”.
The company’s UK arm bought Barbon’s property and commercial book last month, its largest acquisition since it purchased Heath Lambert in 2011. Last year, it snapped up IDL, Intasure, Acumus and Contego.
It is due to move to a new headquarter at the Walbrook Building on Cannon Street, EC4, in August.
The bonds were issued with a 3.69% interest rate and are due to be repaid in 2022.
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