Verisure talks upsized €450 million five-year secured notes to yield in 7¼% area; pricing Monday

By Paul A. Harris

Portland, Ore., Jan. 23 – Verisure Holding AB talked an upsized €450 million offering of five-year senior secured notes to yield in the 7¼% area, according to market sources.

The offering size increased from €350 million.

Pricing tightened from initial guidance in the mid-7% area.

The deal is expected to price later on Monday.

Sole physical bookrunner Goldman Sachs will bill and deliver. BofA and JPMorgan are joint bookrunners.

The notes come with two years of call protection.

Verisure, a Versoix, Switzerland, manufacturer of home and personal security systems, plans to use the proceeds to repay debt under its revolving credit facility.

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