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Garda talks $250 million seven-year senior notes to yield 10¼%-10½%
By Paul A. Harris
St. Louis, March 5 - Garda World Security Corp. talked a $250 million tranche of seven-year senior unsecured notes (B3/B) to yield 10¼% to 10½% on Friday, according to an informed source.
Books close at 1 p.m. ET on Monday.
No talk or timing was given for a concurrent C$75 million tranche of seven-year senior unsecured notes (B3/B).
UBS Investment Bank is the left bookrunner for the dollar-denominated tranche. Macquarie Capital is the joint bookrunner.
TD Securities is the bookrunner for the Canadian dollar-denominated tranche.
The notes come with four years of call protection.
Proceeds will be used to refinance debt and for general corporate purposes.
Garda is a Montreal-based security services provider.
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