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Maples Advises BlackRock in Connection with US$300 Million Loan to Root, Inc.

09 Mar 2022

Maples and Calder, the Maples Group's law firm, is pleased to have advised on the security package in respect of the Cayman Islands insurance subsidiary of Root, Inc. ("Root") in connection with the US$300 million senior term loan made to Root by certain funds and accounts managed by BlackRock Financial Management Inc. ("BlackRock"), its affiliates and co-investors. 

A multi-disciplinary team of lawyers based in the firm's Cayman Islands office provided Cayman Islands counsel to BlackRock and was led by Finance Partner, John Dykstra with the assistance of Funds & Investment Management Partner, Abraham Thoppil and Finance Associate, Jonathan Brown. 

Clifford Chance provided US counsel to BlackRock on the finance, insurance, tax and equity aspects on the transaction. 

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