Goldman Sachs (GS) and Bank of Montreal (BMO) are arranging two separate syndicated loan facilities totaling around $4.1 billion for Alera Group, which is looking to refinance its existing private debt of $3.8 billion, Bloomberg reported Thursday, citing sources close to the matter.
Goldman Sachs is leading a $3.1 billion first-lien loan for the insurance and financial service firm, which is expected to be priced at around 3.5 percentage points over the Secured Overnight Financing Rate, according to the report.
Bank of Montreal is arranging a $1 billion second-lien loan, which would be priced roughly 5.5 percentage points over the benchmark, the report said.
Lenders on the private credit package include Ares Management (ARES), Blackstone (BX), Blue Owl Capital (OWL), KKR (KKR) and Golub Capital (GBDC), the report said, citing regulatory filings.
Alera Group is backed by private equity firms Carlyle (CG) and Genstar Capital.
The companies involved didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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