Alliant Holdings launches $1.6 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Jan. 13 – Alliant Holdings Intermediate LLC launched on Friday its $1,598,500,000 senior secured covenant-light term loan B due Aug. 14, 2022 with price talk of Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Commitments/consents are due at noon ET on Thursday, the source added.

Proceeds will be used to roll the $278.6 million term loan B-2 priced at Libor plus 400 bps with a 1% Libor floor into the $1,319,900,000 term loan B priced at Libor plus 350 bps with a 1% Libor floor, and reprice the debt.

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

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