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Alliant talks $750 million seven-year secured notes in 7% area; pricing Wednesday
By Abigail W. Adams
Portland, Me., Dec. 6 – Alliant Holdings Intermediate LLC and Alliant Holdings Co-Issuer Inc. talked its $750 million offering of seven-year senior secured notes (B2/B) with a yield in the 7% area, according to a market source.
Early guidance for a yield in the mid-7% area.
Books close at 2 p.m. ET on Wednesday with pricing expected thereafter.
The notes are non-callable for three years.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are leading the Rule 144A and Regulation S offering.
Proceeds, alongside a concurrent term loan, will be used to repay a corresponding principal amount of existing term loans.
Alliant Holdings is an Eden Prairie, Minn.-based insurance brokerage holding company.
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