Haynes Boone advised Goosehead Insurance, Inc. (NASDAQ: GSHD) on its $300 million term loan B and $75 million revolving credit facility.
The new financing allows Goosehead to retire its existing $93 million term loan, fund a special dividend and support general corporate purposes. The new term loan, maturing Jan. 8, 2032, carries an interest rate of SOFR plus 3.50%.
The transaction supports Goosehead's recently announced special distribution of $175 million to holders of LLC Units and a special cash dividend of $5.91 per share of Class A common stock.
Haynes Boone Finance Partner Sakina Foster led the transaction team along with Counsel Mei Zhang and Associates Julie Choe and Whitley Johnson. Capital Markets and Securities Partner Matt Fry provided additional regulatory counsel.
Goosehead Insurance, based in Westlake, Texas, is an independent personal lines insurance agency that distributes products through corporate and franchise locations across the United States.
Haynes Boone's Finance Group advises corporate borrowers, financial institutions and investment funds on asset-based lending, senior debt, capital commitment facilities, project finance, energy finance, prime brokerage, public finance and restructurings. With deep industry experience and a business-focused approach, the firm’s finance group delivers practical, results-driven counsel to navigate financial regulations, structure transactions and clear roadblocks.
