Ares leads large £1.9bn unitranche financing for Ardonagh

The $149 billion Ares Management Corporation served as the lead arranger for one of the largest ever unitranche financing transactions ever, totaling £1.9 billion ($2.4 billion) and structured for independent insurance broker The Ardonagh Group.

The deal was done through Ares’ global direct lending platform. The financing is comprised of a £1.575 billion unitranche loan and a £300 million committed capital expenditures facility. The combined £1.875 billion commitment represents the largest ever unitranche financing, according to Ares. The financing will be part of the company’s global refinancing to support its business expansion . . .

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