This is a routine credit facility upsizing and extension for a large insurance broker. No earnings or guidance were released. Monitor the Q2 2026 10-Q for the full credit agreement and any change in leverage ratios. No immediate trading catalyst.
Price Chart
Executive Summary
Brown & Brown entered into a Third Amended and Restated Credit Agreement on June 5, 2026, increasing its revolving credit facility from $800M to $1.25B, extending the maturity to June 2031, and adding $500M in new term loans ($250M due 2029, $250M due 2031). As of filing, $825M was outstanding under the facilities. This is a routine refinancing and capacity expansion for an investment-grade insurance broker — no financial distress or material change in business fundamentals.
Key Financial Metrics
Key Facts
- Revolving credit facility increased from $800M to $1.25B, maturing June 5, 2031
- New $250M Term A-1 Loan Facility maturing June 5, 2029
- New $250M Term A-2 Loan Facility maturing June 5, 2031
- $825M outstanding under the Facilities as of filing date
- Credit agreement is an amendment and restatement of the October 27, 2021 agreement
Financial Impact
Total available credit increased by $700M to $1.75B ($1.25B revolver + $500M term loans); $825M currently drawn
Risk Factors
- Increased total debt capacity could lead to higher leverage if fully drawn
- No financial covenants or interest rate terms disclosed in the 8-K
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-259864 |
| Document: 0001193125-26-259864-index-headers.html | 0001193125-26-259864 |
| Document: 0001193125-26-259864-index.html | 0001193125-26-259864 |
| Document: 0001193125-26-259864.txt | 0001193125-26-259864 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $66.33 $65.12 | ▼ −1.82% | ▼ −1.33% | $59.91 (−9.68%) |
Aug 21, 2026 6w ago | Institutional Cluster | $72.92 $73.31 | ▲ +0.53% | ▲ +0.06% | $59.91 (−17.84%) |
Aug 10, 2026 7w ago | 8-K | $71.60 $68.83 | ▼ −3.88% | ▼ −3.83% | $59.91 (−16.33%) |
Jul 29, 2026 9w ago | ANALYST-DOWNGRADE | $74.87 $70.95 | ▼ −5.24% | ▼ −10.76% | $59.91 (−19.98%) |
Jul 27, 2026 9w ago | 8-K | $73.65 $71.78 | ▼ −2.54% | ▼ −4.81% | $59.91 (−18.66%) |
Jul 27, 2026 9w ago | Press Release | $73.65 $71.78 | ▼ −2.54% | ▼ −4.81% | $59.91 (−18.66%) |
Jul 6, 2026 12w ago | ANALYST-DOWNGRADE | $68.43 $67.66 | ▼ −1.13% | ▼ −1.61% | $59.91 (−12.45%) |
Jul 1, 2026 13w ago | Press Release | $67.36 $69.27 | ▲ +2.84% | ▲ +2.57% | $59.91 (−11.06%) |
Jun 14, 2026 15w ago | Institutional Cluster | $59.28 $58.24 | ▼ −1.75% | ▼ −0.37% | $59.91 (+1.06%) |
Jun 5, 2026 17w ago | 8-K | $58.00 $59.28 | ▲ +2.21% | ▲ +0.10% | $59.91 (+3.29%) |
US Market Status
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