Allied Security $175 million seven-year notes talked to yield 11½%-11¾%

By Paul A. Harris

St. Louis, June 29 - Price talk for Allied Security Inc.'s $175 million offering of seven-year senior subordinated notes (Caal/B-) emerged Tuesday at 11½% to 11¾%, according to an informed source.

The deal is expected to price on Thursday.

Bear Stearns & Co. is running the books for the Rule 144A offering.

The notes come with four years of call protection.

Proceeds will be used to fund the acquisition of Barton Protective Services and to repay debt.

The issuer is a King of Prussia, Pa.-based private security company.

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