Alera Group readies launch of $697 million term loan for Tuesday

By Sara Rosenberg

New York, Feb. 3 – Alera Group is scheduled to hold a lender call on Tuesday to launch a $697 million term loan, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 400 basis points with a 0% Libor floor and a par issue price, the source said.

Proceeds will be used to reprice an existing term loan.

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

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