BROWN & BROWN, INC. 8-K

What Happened
Brown & Brown, Inc. (BRO) announced on June 5, 2026 that it entered into a Third Amended and Restated Credit Agreement with a syndicate led by JPMorgan Chase Bank, N.A. as administrative agent. The agreement increases the company’s revolving credit facility, adds two term‑loan tranches, and updates covenants and other terms. As of the filing date, $825 million was outstanding under the Facilities.

Key Details

• Revolving Credit Facility increased from $800 million to $1,250 million; maturity for the $1.25B revolver extended to June 5, 2031.
• Two new term‑loan facilities added totaling $500 million:
  • Term A‑1: $250 million, maturity June 5, 2029
  • Term A‑2: $250 million, maturity June 5, 2031
• The agreement amends and restates the prior credit agreement dated October 27, 2021 and includes customary covenants, limitations and events of default for similarly rated borrowers.
• Multiple banks serve as agents and lenders (JPMorgan as administrative agent; Bank of America, Truist and BMO as co‑syndication agents; several banks as co‑documentation agents); some lenders provide other banking services to the company.

Why It Matters
This deal increases Brown & Brown’s committed revolving liquidity and adds $500 million of term debt with multi‑year maturities, extending borrowing runway and flexibility for operations, acquisitions, or other uses. For investors, the changes affect the company’s debt profile (amounts outstanding, maturities and potential interest costs) and are material to assessing liquidity and leverage. The full credit agreement will be filed as an exhibit to Brown & Brown’s Form 10‑Q for the quarter ending June 30, 2026.