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Verisure launches €800 million six-year notes at 3 7/8%, upsizes refinancing to €1.6 billion
By Paul A. Harris
Portland, Ore., July 9 – Verisure Holding AB launched €800 million of six-year senior secured notes at 3 7/8%, according to a market source.
The previously announced issue size range was €500 million to €750 million.
Guidance was 4% to 4¼%.
The notes come with two years of call protection.
The notes are part of an upsized €1.6 billion refinancing deal (from €1 billion) that also includes a new term loan B.
The Malmo, Sweden-based security company plans to use the proceeds to pay off its term loan B1F and to pay down its term loan B1E.
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