Alliant Holdings withdraws term loan B-4 amendment to shift to SOFR

By Sara Rosenberg

New York, Feb. 8 – Alliant Holdings pulled its proposed amendment to transition its term loan B-4 due 2027 to SOFR from Libor, according to a market source.

The amendment needed 100% lender approval.

The company is still in market with its $1.25 billion term loan B-5 due 2027 that is talked at SOFR plus 350 basis points with a 0.5% floor, an original issue discount of 99, 101 soft call protection for six months and no CSA.

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 term loan B-5, which launched with a call on Monday. Morgan Stanley is the administrative agent.

Proceeds from the term loan B-5 will be used with $1.25 billion of senior secured notes to refinance the company’s term loan B-1 due 2025 and term loan B-2 due 2025 and for general corporate purposes.

Commitments for the new loan are due at 5 p.m. ET on Thursday.

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

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