U.S. Security talks $40 million add-on term loan at 981/2-99 discount

By Sara Rosenberg

New York, Jan. 25 - U.S. Security Associates Inc. is shopping its $40 million add-on term loan at an original issue discount of 98½ to 99, according to a market source.

Pricing on the loan, which launched with a call this past Tuesday, is Libor plus 475 basis points with a 1.25% Libor floor, in line with existing term loan pricing.

The existing loan was sold at 99 when it was obtained 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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