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Alliant Holdings gets OK lift restricted payments under 8¼% notes
By Wendy Van Sickle
Columbus, Ohio, Sept. 12 – Alliant Holdings Intermediate LLC, formerly Alliant Holdings ILP, and Alliant Holdings Co-Issuer, Inc. received consents from the requisite majority of noteholders to amend their $535 million principal amount of 8¼% senior notes due 2023, according to a press release.
Alliant sought consents 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.
The consent solicitation was launched on Sept. 6 and ended at 5 p.m. ET on Sept. 12.
A supplemental indenture effecting the changes is expected to be executed on Sept. 13.
The consent fee of $2.50 per $1,000 principal amount is expected to be paid on Sept. 18.
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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