Garda to price $120 million tap of 4 5/8% secured notes due 2027 in Monday drive-by

By Paul A. Harris

Portland, Ore., June 29 – Garda World Security Corp. plans to price a $120 million add-on to its 4 5/8% senior secured notes due Feb. 15, 2027 (existing ratings B1/B) in a Monday drive-by trailing a late-morning conference call with investors, according to a syndicate source.

BofA Securities Inc., Barclays, J.P. Morgan Securities LLC, Apollo, TD Securities, Jefferies LLC, RBC Capital Markets LLC, Scotia Capital and UBS Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after Feb. 15, 2023 at 102.313.

The Montreal-based privately owned security company plans to use the proceeds for general corporate purposes, which may include acquisitions.

The original $450 million issue priced in January 2020.

The add-on notes are to become immediately fungible with existing notes.

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