Alliance Data gets debt commitment from CS to back buyout by Blackstone

By Sara Rosenberg

New York, May 17 - Alliance Data Systems Corp. has received a debt financing commitment to help fund its buyout by The Blackstone Group, according to a DEFA14A filed with the Securities and Exchange Commission Thursday.

Credit Suisse is the lead bank on the financing.

Under the transaction agreement, Blackstone Capital Partners V LP will purchase all of the outstanding common stock of Alliance Data for $81.75 per share in cash. The transaction is valued at $7.8 billion, including the assumption of certain debt.

It is currently anticipated that substantially all of Alliance Data's outstanding series A and series B senior notes will either be tendered for or repaid in connection with the transaction.

The buyout is expected to close by year-end, subject to customary closing conditions, including antitrust, other regulatory approvals and the approval of Alliance Data's stockholders. There is no financing condition.

Alliance Data is a Dallas-based provider of marketing, loyalty and transaction services.

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