Garda World to repay $20 million of revolver debt via add-on proceeds

By Sarah Lizee

Olympia, Wash., March 1 – Garda World Security Corp. plans to repay $20 million of outstanding debt under its $157.5 million multi-currency revolving credit facility using proceeds from a $125 million add-on to its 8¾% senior notes due May 15, 2025, according to a press release.

The facility matures on May 26, 2022 and was incurred to finance a recent acquisition.

Proceeds will also be used to pay fees and expenses related to the offering and for general corporate purposes, which may include acquisitions. Any remaining proceeds may be used to repay borrowings under the revolver.

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

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