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Alliant Resources $300 million credit facility to launch Tuesday
By Sara Rosenberg
New York, Oct. 27 - Alliant Resources Group Inc. is scheduled to hold a bank meeting on Tuesday to launch its proposed $300 million credit facility, according to a market source.
JPMorgan and General Electric Capital Corp. are the lead banks on the deal, with JPMorgan the left lead.
The facility consists of a $30 million revolver talked at Libor plus 300 basis points, a $175 million first-lien term loan B talked at Libor plus 300 bps and a $95 million second-lien term loan talked at Libor plus 650 bps, the source said.
Proceeds will be used to help fund Lindsay Goldberg & Bessemer LP's leveraged buyout of the company from GTCR Golder Rauner LLC.
Alliant is a Stamford, Conn., distributor of insurance and financial services.
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