Arthur J. Gallagher & Co. has entered into a $450 million unsecured credit facility, expiring on Oct. 4, 2010, with a group of nine financial institutions led by Harris N.A., Citibank, N.A., and Barclays Bank PLC. Gallagher may also request an additional $100 million in funding capacity within the facility. Funds may be drawn for stock repurchase, future acquisitions or general corporate purposes. This agreement replaces a $250 million unsecured revolving credit facility that was due to expire in July 2006.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Ill., has operations in seven countries and does business in more than 110 countries around the world through a network of correspondent brokers and consultants.
Topics A.J. Gallagher
Was this article valuable?
Here are more articles you may enjoy.
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway 
