Alliant Holdings asks to lift restricted payments under 8¼% notes

By Susanna Moon

Chicago, Sept. 6 – Alliant Holdings Intermediate LLC, formerly Alliant Holdings ILP, and Alliant Holdings Co-Issuer, Inc. began a consent solicitation for their $535 million principal amount of 8¼% senior notes due 2023.

Alliant is seeking consents for a majority of the notes to amend the limitation on restricted payments covenant to allow a one-time restricted payment by the company or a parent entity of up to $275 million in order to repurchase for cash the minority equity interests in a parent entity, according to a company announcement.

The consent solicitation will end at 5 p.m. ET on Sept. 12. The record date is Sept. 12.

The consent fee will be $2.50 per $1,000 principal amount.

D.F. King & Co., Inc. (212 269-5550 or 800 283-2519) is the information, tabulation and paying agent. Morgan Stanley & Co. LLC (212 761-1057 or 800 624-1808) is the solicitation agent.

Alliant Holdings is a Newport Beach, Calif.-based specialty insurance brokerage firm.

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