Alliance Laundry talks $1.25 billion term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Sept. 21 – Alliance Laundry Systems LLC launched on Monday its $1.25 billion seven-year covenant-lite term loan B with price talk of Libor plus 375 basis points to 400 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

UBS Investment Bank, BofA Securities Inc., BMO Capital Markets and Citigroup Global Markets Inc. are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Sept. 30, the source added.

Proceeds will be used to refinance existing debt.

Alliance Laundry is a Ripon, Wis.-based designer, manufacturer and marketer of commercial laundry equipment.

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