AON plc

04/19/2024 | Press release | Distributed by Public on 04/19/2024 10:20

Material Agreement - Form 8-K

Item 1.01
Entry into a Material Definitive Agreement

On April 16, 2024, Aon North America, Inc. (“ANA") entered into Amendment No. 1 ("Amendment No. 1") to the Term Loan Credit Agreement dated as of February 16, 2024 (as amended, supplemented or otherwise modified from time to time, the "Term Loan Credit Agreement"), by and among ANA, Aon plc ("Parent"), Aon Corporation ("Aon Corp"), Aon Global Holdings plc ("AGH"), Aon Global Limited ("AGL"), Citibank, N.A. ("Citibank"), as administrative agent, and the lenders party thereto from time to time.

Also on April 16, 2024, Aon Corp, in its capacity as Borrower Representative under each of the Revolving Credit Agreements (as defined below), entered into (i) Amendment No. 2 ("Amendment No. 2") to the Credit Agreement dated as of October 19, 2023 (as amended, supplemented or otherwise modified from time to time, the "2023 Revolving Credit Agreement"), by and among Parent, AGL, AGH, Aon Corp, ANA, Citibank, as administrative agent, and the lenders party thereto from time to time and (ii) Amendment No. 4 ("Amendment No. 4" and, together with Amendment No. 1 and Amendment No. 2, the "Amendments") to the Credit Agreement dated September 28, 2021 (as amended, supplemented or otherwise modified from time to time, the "2021 Revolving Credit Agreement" and, together with the 2023 Revolving Credit Agreement, the "Revolving Credit Agreements"; the Revolving Credit Agreements together with the Term Loan Credit Agreement, the "Credit Agreements"), by and among Parent, AGL, AGH, Aon Corp, ANA, Aon UK Limited, Citibank, as administrative agent, and the lenders party thereto from time to time.

The Amendments amend the Credit Agreements to permit the outstanding 6.875% Senior Notes due 2028, 4.875% Senior Secured Notes due 2028, 7.500% Senior Secured Notes due 2030 and 8.500% Senior Secured Notes due 2031, each issued by NFP Corp., a Delaware corporation and a wholly owned subsidiary of NFP Intermediate Holdings A Corp. ("NFP"), to remain outstanding following the consummation of the previously announced acquisition of NFP by Randolph Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Parent.

Parent and its subsidiaries have other commercial relationships with the lenders, lead arrangers and bookrunners and the syndication agent under the Credit Agreements and their respective affiliates. In addition, Parent and certain of its affiliates have performed, and may perform, various insurance brokerage and consulting services for the lenders, lead arrangers and bookrunners and the syndication agent under the Credit Agreements and/or their respective affiliates.

The foregoing description of the Amendments does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendments, copies of which are filed herewith as Exhibits 10.1, 10.2 and 10.3 and incorporated herein by reference.