Verisure issues contingent call for €630 million 6% notes due 2022

By Susanna Moon

Chicago, Nov. 5 – Verisure Holding AB issued a conditional redemption notice for its €630 million of 6% senior secured notes due 2022.

The notes will be redeemed at 103 on Nov. 17, subject to a financing condition, according to the notice.

The aggregate amount will be €650.58 million, which consists of par plus the redemption premium of €18.9 million and accrued interest.

The record date will be Nov. 16, and the payment date will be Nov. 19.

Citibank NA, London Branch (fax +353 1 622 2210) is the principal paying agent.

Verisure plans €1,012,000,000 principal amount of senior secured debt consisting of senior secured notes and incremental drawings under its senior credit facilities, according to a separate company announcement.

In addition, Verisure Midholding AB (publ) plans to price €100 million principal amount of senior notes due 2023 as additional notes under the company’s €1,145,000,000 equivalent senior notes due 2023.

Proceeds will be used to redeem the issuer’s 6% senior secured notes due 2022, to repay outstanding amounts under the company’s revolver and to make a distribution to the issuer’s indirect shareholders.

Verisure is a Malmo, Sweden-based provider of professionally monitored alarms and connected services.

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