Alera Group readies launch of $425 million term loan B for Wednesday

By Sara Rosenberg

New York, July 16 – Alera Group is scheduled to hold a lender call on Wednesday to launch a $425 million term loan B, according to a market source.

J.P. Morgan Securities LLC, Barclays and BMO Capital Markets are the lead banks on the deal.

Price talk on the term loan is Libor plus 450 basis points to 475 bps with a 0% Libor floor and an original issue discount of 99.5, the source said.

The term loan has 101 soft call protection for six months.

Proceeds will be used to refinance existing bank debt and fund acquisitions.

Commitments are due at noon ET on July 27, the source added.

Alera is a Deerfield, Ill.-based insurance brokerage and wealth management firm.

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