Alliance Laundry lifts term loan B to $1.33 billion, lowers pricing

By Sara Rosenberg

New York, Sept. 30 – Alliance Laundry Systems LLC upsized its seven-year covenant-lite term loan B to $1.325 billion from $1.25 billion and reduced pricing to Libor plus 350 basis points from talk in the range of Libor plus 375 bps to 400 bps, according to a market source.

Also, the original issue discount on the term loan was changed to 99.25 from 99, the source said.

As before, the term loan has a 0.75% Libor floor and 101 soft call protection for six months.

UBS Investment Bank, BofA Securities Inc., BMO Capital Markets, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint bookrunners on the deal.

Recommitments were scheduled to be due at 3 p.m. ET on Wednesday, 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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