By Cady Vishniac
Detroit, Jan. 15 – Verisure Holding AB sold €1.15 billion 3¼% secured notes due 2027 (B1/B), while subsidiary Verisure Midholding AB sold €1.18 billion 5¼% notes due 2029 and SEK 1.5 billion floating-rate notes due 2029 (Caa1/CCC+), according to market sources.
The notes were all priced at par.
The company plans to use the proceeds from the three tranches of notes, along with Verisure Holding’s recently issued €2 billion senior secured loan due January 2028 and new €700 million senior secured revolving credit facility due July 2027, to repay in full drawings under its existing senior facilities agreement dated Oct. 15, 2015, to fund a distribution to shareholders and to pay fees and expenses in connection with these transactions and with a successful consent solicitation.
Verisure is a Malmo, Sweden-based security alarms producer
| Issuers: | Verisure Holding AB and Verisure Midholding AB
|
| Issue: | Notes
|
| Amount: | €2.33 billion and SEK 1.5 billion
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 25
|
| Distribution: | Regulation S and Rule 144A
|
|
|
| 2027 euro notes
|
| Issuer: | Verisure Holding AB
|
| Issue: | Senior secured notes
|
| Amount: | €1.15 billion
|
| Maturity: | 2027
|
| Coupon: | 3¼%
|
| Price: | Par
|
| Ratings: | Moody’s: B1
|
| S&P: B
|
|
|
| 2029 euro notes
|
| Issuer: | Verisure Midholding AB
|
| Issue: | Senior notes
|
| Amount: | €1,175,000,000
|
| Maturity: | 2029
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Ratings: | Moody’s: Caa1
|
| S&P: CCC+
|
|
|
| 2029 krona notes
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| Issuer: | Verisure Midholding AB
|
| Issue: | Floating-rate notes
|
| Amount: | SEK 1.5 billion
|
| Maturity: | 2029
|
| Price: | Par
|
| Ratings: | Moody’s: Caa1
|
| S&P: CCC+
|
|
|
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