Alliant Holdings sets pricing on revolver and term loan B at tight end

By Sara Rosenberg

New York, Nov. 26 - Alliant Holdings I LLC firmed pricing on its $100 million revolver due Dec. 20, 2017 at Libor plus 300 basis points, the low end of the Libor plus 300 bps to 325 bps talk, and on its $699,712,500 term loan B due Dec. 20, 2019 at Libor plus 325 bps, the tight side of the Libor plus 325 bps to 350 bps talk, according to a market source.

As before, the term loan B has a 1% Libor floor, a par offer price and 101 soft call protection for six months.

Morgan Stanley Funding Inc. and KKR Capital Markets LLC are the joint lead arrangers on the $799,712,500 senior secured credit facility and Morgan Stanley, J.P. Morgan Securities LLC and Macquarie Capital (USA) Inc. are the bookrunners.

Proceeds will be used to reprice an existing credit facility, which will result in a reduction of pricing on the term loan B from Libor plus 375 bps with a 1.25% Libor floor.

Closing is expected to occur on Dec. 20, the source added.

Alliant is a Newport Beach, Calif.-based specialty insurance brokerage firm.

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