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U.S. Security talks $40 million add-on loan at Libor plus 475 bps
By Sara Rosenberg
New York, Jan. 24 - U.S. Security Associates Inc. launched a $40 million add-on term loan on Tuesday afternoon at talk of Libor plus 475 basis points with a 1.25% Libor floor, according to a market source.
The original issue discount is still to be determined, the source said.
The spread and floor match that of the company's existing term loan, which was obtained at an original issue discount of 99 last year.
Goldman Sachs & Co. is the lead bank on the deal.
Proceeds will be used to fund an acquisition.
U.S. Security Associates is a Roswell, Ga.-based security firm.
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