Alliant Holdings expected to price $1.25 billion five-year secured notes on Tuesday

By Paul A. Harris

Portland, Ore., Feb. 6 – Alliant Holdings Intermediate, LLC and Alliant Holdings Co-Issuer, Inc. plan to price $1.25 billion of senior secured notes due February 2028 (B2/B) on Tuesday, according to market sources.

The deal, which was scheduled to kick off on a Monday conference call with investors, is in the market with initial guidance in the high-6% to 7% area and is heard to be in the market on the back of a good amount of reverse inquiry, according to a sellside source.

Joint bookrunner Morgan Stanley & Co. LLC will bill and deliver. J.P. Morgan Securities LLC, SPCM, Capital One Securities Inc., Truist Securities Inc., RBC Capital Markets LLC, BofA Securities Inc., Fifth Third Securities Inc., Goldman Sachs & Co. LLC, KKR Capital Markets LLC, Macquarie Capital (USA) Inc. and R. Seelaus & Co. Inc. are also joint bookrunners.

The Rule 144A for life and Regulation S five-year notes come with two years of call protection.

The Eden Prairie, Minn.-based insurance brokerage plans to use the proceeds to repay bank debt and for general corporate purposes.

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