Alliant talks $750 million seven-year secured notes in 7% area; pricing Wednesday

By Abigail W. Adams

Portland, Me., Dec. 6 – Alliant Holdings Intermediate LLC and Alliant Holdings Co-Issuer Inc. talked its $750 million offering of seven-year senior secured notes (B2/B) with a yield in the 7% area, according to a market source.

Early guidance for a yield in the mid-7% area.

Books close at 2 p.m. ET on Wednesday with pricing expected thereafter.

The notes are non-callable for three years.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are leading the Rule 144A and Regulation S offering.

Proceeds, alongside a concurrent term loan, will be used to repay a corresponding principal amount of existing term loans.

Alliant Holdings is an Eden Prairie, Minn.-based insurance brokerage holding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.