Verisure seeks to refinance bank debt by selling €500 million minimum new secured notes

By Paul A. Harris

Portland, Ore., July 8 – Verisure Holding AB is in the market with an offering of six-year senior secured notes expected to come sized between €500 million and €700 million, according to market sources.

Initial guidance has the notes pricing to yield 4% to 4¼%.

The notes come with two years of call protection.

The notes are part of an expected €1 billion refinancing deal that also includes a new term loan B.

The Malmo, Sweden-based security company plans to use the proceeds to pay off its term loan B1F and to pay down its term loan B1E.

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