Alliant shops $800 million add-on term loan B-3 at 99.25-99.5 OID

By Sara Rosenberg

New York, April 28 – Alliant Holdings is talking its fungible $800 million add-on first-lien term loan B-3 with an original issue discount in the range of 99.25 to 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 375 basis points with a 0.5% Libor floor.

The add-on term loan has 101 soft call protection until November 2021.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at noon ET on Thursday, accelerated from 5 p.m. ET on Thursday.

Proceeds will be used to fund the acquisition of Confie, a Huntington Beach, Calif.-based personal lines insurance distributor, from Abry Partners.

Closing is expected this quarter, subject to customary conditions, including regulatory approvals.

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

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