Allied Security calls 11 3/8% notes due 2011

By Angela McDaniels

Tacoma, Wash., Aug. 21 - Allied Security Holdings LLC called its 11 3/8% senior subordinated notes due 2011 on Thursday.

The redemption date is Sept. 19, according to an 8-K filing with the Securities and Exchange Commission. Holders will receive par plus an unspecified premium and accrued interest through the redemption date.

The company was acquired by affiliates of the Blackstone Group for $700 million on Aug. 21. Allied Security announced on July 29 that it planned to call the notes in connection with the merger.

The merger constituted a change of control under the note indenture and Allied Security's credit facility. Proceeds from the merger will be used to fund the redemption and to repay the credit facility.

Allied Security is based in King of Prussia, Pa., and provides security officer services through AlliedBarton Security Services. Prior to the merger, the company was controlled by SpectaGuard Holding Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.