Sweden's Securitas starts roadshow for €600 million senior notes

By Paul A. Harris

Portland, Ore., Feb. 3 - Sweden's Securitas Direct began a roadshow on Friday in Europe for a €600 million offering of series A senior secured notes due September 2018, according to a market source.

The European roadshow wraps up on Tuesday.

A Feb. 8-10 roadshow is scheduled to take place in the United States.

Global coordinator and joint bookrunner Morgan Stanley will bill and deliver. Goldman Sachs International is also a global coordinator and joint bookrunner. Bank of America Merrill Lynch, HSBC, Nomura and Nordea are also joint bookrunners.

The Rule 144A and Regulation S for life notes become callable in September 2014 at par plus ¾ coupon.

Credit ratings remain to be determined.

The issuing entity will be special purpose vehicle Verisure Holding AB.

Proceeds will be used to refinance debt used to acquire Securitas Direct by Bain Capital and Hellman & Friedman from EQT.

The issuer is a Malmo, Sweden-based provider of monitored home alarms.

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