Alliant launches $1.25 billion term loan B-5 at SOFR plus 350 bps

By Sara Rosenberg

New York, Feb. 6 – Alliant Holdings was scheduled to hold a lender call at noon ET on Monday to launch a $1.25 billion term loan B-5 due 2027 that is talked at SOFR plus 350 basis points with a 0.5% floor and an original issue discount of 99, according to a market source.

The term loan B-5 has 101 soft call protection for six months and no CSA, the source said.

JPMorgan Chase Bank, Morgan Stanley Senior Funding Inc., SPC Capital Markets, Capital One, Truist, RBC Capital Markets, BofA Securities Inc., Fifth Third, Goldman Sachs Bank USA, KKR Capital Markets, Macquarie Capital (USA) Inc. and R. Seelaus are the arrangers on the deal. Morgan Stanley is the administrative agent.

Proceeds will be used with $1.25 billion of senior secured notes to refinance the company’s term loan B1 due 2025 and term loan B-2 due 2025 and for general corporate purposes.

The company is also seeking an amendment to transition its term loan B-4 due 2027 to SOFR from Libor.

Commitments for the new loan and the amendment deadline is 5 p.m. ET on Thursday, the source added.

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

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