Garda pricing $50 million tap of 9¾% senior notes due 2017 Monday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., June 10 - Garda World Security Corp. is set to sell a $50 million add-on to its 9¾% senior notes due March 15, 2017 (existing ratings B2/B) on Monday, according to a market source.

BofA Merrill Lynch, RBC Capital Markets LLC and TD Securities are banks on the deal.

The notes will be callable on March 15, 2014 at 104.875.

Proceeds will be used to repay the company's revolving credit facility and for general corporate purposes.

The integrated cash logistics and physical security solutions firm is based in Montreal.

An investor call was scheduled for 11 a.m. ET.

The original $250 million and C$75 million issues priced in May 2011 at 98.148 and yield 10 1/8%.

A previous C$50 million add-on priced at 106.5 to yield 8.08% in May 2011, and another previous C$50 million add-on priced at 102 to yield 9.15% in January 2012.

The new add-on notes will be fungible with the existing notes within four months.

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