Alliant Holdings talks $290 million 7.5-year senior notes at 11¾% area

By Paul A. Harris

St. Louis, Oct. 23 - Alliant Holdings I, Inc. set price talk for its $290 million offering of 7.5-year senior notes (Caa1/CCC) at the 11¾% area on Tuesday, according to market sources.

The notes are expected to price in a quick-to-market Wednesday transaction via bookrunner JPMorgan and co-manager UBS Investment Bank.

The Rule144A for life notes will come with four years of call protection.

Proceeds will be used to fund the acquisition of the company by the Blackstone Group and management.

Alliant is a California-based specialty insurance broker.

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