Verisure talks €700 million seven-year secured notes to yield 6%-6¼%; pricing Friday

By Paul A. Harris

Portland, Ore., Oct. 22 – Verisure Holding AB talked its €700 million offering of seven-year senior secured notes (B1/B) to yield 6% to 6¼%, according to a market source.

The Rule 144A and Regulation S deal is set to price on Friday.

Joint global coordinator Goldman Sachs International will bill and deliver. Morgan Stanley, BofA Merrill Lynch, Nomura and Nordea Securities AB are also global coordinators.

Barclays, Citigroup, Credit Suisse, Deutsche Bank and HSBC are joint bookrunners.

Proceeds will be used to help fund the acquisition of a 46% stake in the Malmo, Sweden-based provider of monitored alarm solutions by Hellman & Friedman from Bain Capital, and to refinance debt.

Verisure operates under the Securitas Direct and Verisure brand names.

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