Alliant Holdings to sell $575 million eight-year notes on Thursday; initial talk high 6% area

By Paul A. Harris

Portland, Ore., Oct. 1 – Alliant Holdings Intermediate, LLC and Alliant Holdings Co-Issuer, Inc. plan to price a $575 million offering of eight-year senior notes (current ratings Caa2/CCC+) on Thursday, according to market sources.

The offer was scheduled to be shopped on a mid-morning investor conference call on Tuesday.

Initial price talk has the deal coming to yield in the high 6% area, according to an investor.

Morgan Stanley & Co. LLC, BofA Securities Inc., Capital One Securities Inc., Fifth Third Securities Inc., Goldman Sachs & Co. LLC, Jefferies LLC, KKR Capital Markets, Macquarie Capital (USA) Inc., RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

Eden Prairie, Minn.-based insurance brokerage plans to use proceeds from the Rule 144A for life and Regulation S deal, plus proceeds from a concurrent incremental term loan and cash on hand, to redeem its existing senior notes.

© 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.