Alliance Data launches $1.5 billion facility at Libor plus 225 bps

By Sara Rosenberg

New York, April 28 - Alliance Data Systems Corp. launched its $1.5 billion five-year credit facility on Thursday with price talk of Libor plus 225 basis points, according to a market source.

There is no Libor floor, the source said.

The facility consists of a $750 million term loan A and a $750 million revolver.

Commitments are due in about two weeks, the source added.

SunTrust Robinson Humphrey Inc. is the lead arranger on the deal.

Proceeds will be used to refinance existing debt.

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

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