Garda adds $100 million add-on term loan to repricing transaction

By Sara Rosenberg

New York, March 12 – Garda World Security Corp. is now seeking a $100 million add-on first-lien term loan B due Oct. 30, 2026 in addition to its in-market repricing of the existing $988 million first-lien term loan B due Oct. 30, 2026, according to a market source.

Price talk on the add-on term loan is the same as the repricing price talk at Libor plus 425 basis points with a 0% Libor floor and a par issue price, the source said.

As before, the term loan debt is getting 101 soft call protection for six months.

Barclays is the lead left bookrunner on the deal. JPMorgan Chase Bank is the administrative agent.

Recommitments are due at noon ET on Monday, the source added.

Proceeds from the add-on term loan will be used with cash on hand to repay revolving credit facility borrowings, and the repricing will take the existing first-lien term loan B down from Libor plus 475 bps with a 0% Libor floor.

Garda is a Montreal-based provider of cash logistics and security solutions.

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