Atlanta-based Crawford & Company has successfully closed a three- year $70 million revolving credit facility and issued $50 million in seven- year 6.08 percent senior notes. Debt proceeds will be used to repay existing indebtedness and fund working capital requirements.
Banks participating in the revolving credit agreement include SunTrust Bank, Bank of America, and Citibank. The senior notes were purchased by Prudential Capital Group, an institutional investment management business of Prudential Financial, Inc., in a private placement. The revolving credit facility and senior notes were arranged by SunTrust Robinson Humphrey, a division of SunTrust Capital Markets, Inc.
Crawford & Company is an independent provider of claims management solutions to insurance companies and self-insured entities. Major service lines include workers’ compensation claims administration and healthcare management services, property and casualty claims management, class action services and risk management information services.
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