Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alliant Holdings LP > News item |
Alliant lifts add-on term loan B-3 to $875 million, firms at 99.5 OID
By Sara Rosenberg
New York, April 29 – Alliant Holdings upsized its fungible add-on first-lien term loan B-3 to $875 million from $800 million and set the original issue discount at 99.5, the tight end of the 99.25 to 99.5 talk, 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.
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.
© 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.