Protection One may redeem senior secured notes via bank refinancing

New York, Nov. 6 - Protection One Inc. said it is discussing expanding its credit facility to allow it to redeem its $115.3 million of senior secured notes due Nov. 15, 2011.

Existing lenders and potential new lenders are being asked about the possibility of increasing the company's term loan by $75 million to $364.5 million. Proceeds along with cash would be used to repay the notes.

In addition, Protection One is in discussions with the existing lenders to extend the maturity date of the credit facility.

Also, the company is looking to amend certain other terms of the credit facility.

Protection One is a Lawrence, Kan.-based electronic security company.

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