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Alliant launches $200 million add-on term loan B at par issue price
By Sara Rosenberg
New York, April 19 – Alliant Holdings Intermediate LLC launched on Wednesday its fungible $200 million add-on 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 add-on term loan has 101 soft call protection until July 24 and amortization of 1% per annum, the source said.
Morgan Stanley Senior Funding Inc. and KKR Capital Markets LLC are the joint lead arrangers and bookrunners on the deal.
Proceeds will be used to fund a dividend to shareholders.
Commitments are due at 2 p.m. ET on Thursday, the source added.
Alliant is a Newport Beach, Calif.-based specialty insurance brokerage firm.
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