Alion Science launches $360 million term loan at Libor plus 275 bps

By Sara Rosenberg

New York, Jan. 22 – Alion Science & Technology Corp. held a lender call on Friday to launch a roughly $360 million first-lien term loan (B1/BB-) due July 2024 that is talked at Libor plus 275 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

UBS Investment Bank is the lead on the deal.

Commitments are due at 5p.m. ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 375 bps with a 1% Libor floor.

Alion, a portfolio company of Veritas Capital, is a McLean, Va.-based provider of advanced engineering, intelligence surveillance and reconnaissance, research development test and evaluation, live virtual and constructive training, electronic warfare, and cybersecurity solutions primarily to U.S. Department of Defense and intelligence community customers.

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