Alliant Holdings finalizes $725M add-on term loan, repricing; terms

Alliant Holdings LP has completed a $725 million fungible add-on to its term loan B-3 due November 2027 alongside a repricing of the existing tranche through a J.P. Morgan-led arranger group, according to sources. Pricing was finalized at L+350, with a 0.5% Libor floor and an issue price of 99.875. The add-on was upsized by $250 million in a shift from a concurrent offering of secured notes and brings the pro forma term loan tranche size to about $1.95 billion.

Proceeds from the add-on term loan, combined with those from a $450 million issue of 5.875% senior unsecured notes due November 2029 and $225 million of 4.25% senior secured notes due October 2027, will be used to make a special distribution, fund acquisitions and for general corporate purposes. The repricing lowers the margin from L+375. Alliant Insurance Services Inc., based in Newport Beach, Calif., is an insurance broker primarily serving commercial middle-market and government entities. Stone Point Capital is the sponsor.

Terms: