R&Q in lock-up deal over Accredited sale; anticipates significant cut in proceeds

R&Q Insurance Holdings has entered into a lock-up agreement with several lending parties for restructuring certain financial debts as it seeks approval for the completion of Accredited’s $465 million sale to Onex. It says that the expected proceeds have been slashed by approximately 61.76% for the lower limit and 47.62% for the upper limit.