Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alliant Insurance Services Inc. > News item |
Alliant Insurance launches $420 million credit facility
By Sara Rosenberg
New York, Oct. 17 - Alliant Insurance Services Inc. held a conference call on Wednesday at 3 p.m. ET to launch its $420 million credit facility (B3/B-), according to a market source.
JPMorgan and UBS are the lead banks on the already funded deal.
The facility consists of a $60 million revolver and a $360 million term loan B talked at Libor plus 300 basis points, the source said.
The term loan B is being offered with an original issue discount that is being guided in the low 98 area, the source added.
Proceeds were used to fund the already completed acquisition of the company by the Blackstone Group and management and employees from Lindsay Goldberg.
The credit facility had originally been launched to investors in July, with the term loan B talked at Libor plus 275 bps, but syndication was put on hold due to market conditions.
Alliant is a Newport Beach, Calif., insurance brokerage firm.
© 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.