Canadian broker Navacord borrows $830mn to fund acquisitions war chest
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Canadian broker Navacord borrows $830mn to fund acquisitions war chest

Bernard Goyder
March 30, 2021
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Navacord logo toronto.jpg

Canadian insurance broker Navacord is borrowing C$1.05bn ($830mn) from a syndicate of banks, as the intermediary looks to grow through acquisitions.

The deal will also allow Navacord to repay existing debt obligations and fund other strategic growth opportunities.

TD Securities and Bank of Montreal both acted as administrative agents on the transaction.

Navacord

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Bernard Goyder
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