Alliance Laundry launches $285 million term at Libor plus 475 bps

By Sara Rosenberg

New York, Sept. 14 - Alliance Laundry Systems LLC launched its $285 million six-year term loan on Tuesday with price talk of Libor plus 475 basis points with a 1.75% Libor floor and an original issue discount of 98 to 99, according to sources.

The term loan includes 101 soft call protection for one year.

The company's $345 million senior secured credit facility also provides for a $60 million five-year revolver.

Bank of America is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Alliance Laundry is a Ripon, Wis.-based provider of laundry products and services.

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