Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alliant Holdings I, LLC > News item |
Alliant lowers eight-year notes to $450 million, sets yield talk at 8% area; pricing Thursday
By Paul A. Harris
Portland, Ore., Dec. 6 - Alliant downsized its offering of eight-year senior notes (expected ratings Caa2/CCC) to $450 million from $475 million, shifting $20 million of proceeds to its term loan, a market source said on Thursday morning.
Yield talk on the notes is set in the 8% area.
The deal is set to price later in the day.
J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, RBC Capital Markets, UBS Investment Bank and Macquarie Capital (USA) Inc. are the joint bookrunners.
Mizuho Securities USA Inc. and KKR Capital Markets are the co-managers.
The Rule 144A and Regulation S for life notes come with three years of call protection.
Proceeds will be used to fund the acquisition of the specialty insurance broker by KKR.
The issuing entities are A-S Co-Issuer Subsidiary Inc. and A-S Merger Sub LLC, which are to be merged with and into Alliant Holdings I LLC.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.