Towergate and Price Forbes owners in $1bn debt raising

The new holding company of insurance brokers Towergate, Price
Forbes, Ryan Direct Group, Chase Templeton and Autonet is tapping
the corporate bond market for £800mn ($1.04bn).
The holding company that will raise the debt is called KIRS
Group, which is backed by private equity firms Madison Dearborn
Partners and HPS Investment Partners.
In a statement today KIRS said it had also committed to enter a
super-senior £90mn revolving credit facility.It said it would use funds raised to refi