Alliance Data talks $350 million eight-year notes with 6½% area yield

By Paul A. Harris

Portland, Ore., March 21 - Alliance Data Systems Corp. talked a $350 million offering of unrated eight-year senior notes with a yield in the 6½% area, a syndicate source said on Wednesday.

The official talk is in line with earlier guidance on the notes, according to a trader from a high-yield mutual fund.

The books close at 2 p.m. ET on Thursday except for accounts meeting with the company on Thursday.

The deal is set to price on Thursday afternoon.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Barclays Capital Inc., RBC Capital Markets and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S for life deal.

SMBC, Credit Suisse Securities (USA) LLC and Fifth Third Securities are the senior co-managers.

CIBC World Markets, Huntington, Mizuho Securities USA Inc., Williams Capital Group LP, KeyBanc Capital Markets, Scotia Capital, RBS Securities Inc. and SunTrust Robinson Humphrey are the co-managers.

The notes come with four years of call protection.

Proceeds will be used to repay outstanding revolver debt and for general corporate purposes.

The prospective issuer is a Dallas-based provider of transaction-based, data-driven marketing and loyalty solutions serving large, consumer-based industries.

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