Alliant Insurance $535 million eight-year notes expected to launch in final week of July

By Paul A. Harris

Portland, Ore., July 16 – Alliant Insurance Services Inc. is expected to launch a $535 million offering of eight-year notes during the final week of July, according to a market source.

UBS Investment Bank will lead the deal.

On Wednesday the company held a bank meeting for its $1.54 billion senior secured credit facility (B2/B), which is being led by Morgan Stanley Senior Funding Inc., UBS, Jefferies Finance LLC, KKR Capital Markets LLC, MCS Capital Markets LLC, Macquarie Capital (USA) Inc. and Nomura Securities International Inc.

Proceeds will be used to help fund the purchase of a significant equity interest in the company by Stone Point Capital LLC, expected to close in early- to mid-August.

Through the agreement, funds managed by Stone Point will become Alliant Insurance’s largest institutional shareholders, and the company’s existing shareholders, who include management and producers as well as funds affiliated with KKR, will remain significant shareholders in the business.

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

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