BRO

#527
Brown & Brown, Inc. Common Stock
72.2 2 USD
-0.01%
Market Price
Settore: Finanziario
Base: USD
Valuta di Profitto: USD
Intervallo Giornaliero
72.02
72.40
Intervallo Annuale
53.81
97.15
Variazione giornaliera
-1.49%
Variazione Mensile
+1.12%
Variazione di 6 mesi
+0.78%
Variazione Annuale
-25.24%
Chiusura Precedente
73.3 1
Open
72.2 1
Minimo
72.0 2
Massimo
72.4 0
Volume
838
Apri il grafico completo

Financials

Panoramica Estratto Conto Statistiche Dividendi Documents

2026

Current report, Q3 FY2026
BROWN & BROWN, INC. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
BROWN & BROWN, INC. current report, Q3 FY2026
8-K
Quarterly report, Q2 FY2026
BROWN & BROWN, INC. quarterly report, Q2 FY2026
10-Q
Current report, Q2 FY2026
BROWN & BROWN, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
BROWN & BROWN, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
BROWN & BROWN, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
BROWN & BROWN, INC. current report, Q2 FY2026
8-K
Quarterly report, Q1 FY2026
BROWN & BROWN, INC. quarterly report, Q1 FY2026
10-Q
Current report, Q1 FY2026
BROWN & BROWN, INC. current report, Q1 FY2026
8-K
Current report, Q1 FY2026
BROWN & BROWN, INC. current report, Q1 FY2026
8-K

BROWN & BROWN, INC. current report, Q2 FY2024

Full document

Business Context and Reporting Period

Company: Brown & Brown, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 11, 2024
Event: Entry into a Material Definitive Agreement regarding the issuance of senior notes.

Key Financial Metrics

  • Debt Issuance: $600,000,000 aggregate principal amount of 5.650% Senior Notes due 2034.
  • Net Proceeds: Approximately $593.2 million (after underwriting discounts and estimated offering expenses).
  • Interest Rate: 5.650% per annum.
  • Maturity Date: June 11, 2034.
  • Interest Payment Schedule: Semi-annually in arrears on June 11 and December 11, commencing December 11, 2024.
  • Debt Structure: Senior unsecured obligations ranking equal to existing and future senior unsecured indebtedness.

Material Changes and Use of Proceeds

The Company intends to use the net proceeds from this offering to:

  • Redeem its existing 4.2% senior notes due September 2024.
  • Fund general corporate purposes.

This transaction represents a material change in the Company's capital structure, replacing near-term debt maturing in September 2024 with long-term debt maturing in 2034 at a higher interest rate (5.650% vs. 4.2%).

Guidance, Risks, and Covenants

  • Redemption Rights: The Company may redeem the Notes in whole or in part at any time at "make whole" redemption prices plus accrued interest.
  • Change of Control: The Indenture includes a covenant requiring the Company to repurchase the Notes upon a "change of control triggering event."
  • Restrictive Covenants: The Indenture limits the ability of the Company and certain subsidiaries to incur secured debt, consolidate, merge, or transfer substantially all assets, subject to exceptions and qualifications.
  • Underwriters: BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, and Truist Securities, Inc.

Investor Verification Checklist

  • Verify the exact redemption price and timing for the existing 4.2% senior notes due September 2024.
  • Review the "make whole" redemption price formula in the Prospectus Supplement to understand early redemption costs.
  • Assess the impact of the increased interest rate (5.650%) on future interest expense compared to the refinanced debt.
  • Examine the specific exceptions to the restrictive covenants regarding secured debt and asset transfers.
  • Confirm the status of the Automatic Shelf Registration Statement (No. 333-271708) used for this offering.

Notizie