Central Security shops $50 million Libor plus 563 bps incremental term loan at 97

By Paul A. Harris

Portland, Ore., Jan. 25 – Central Security Group, Inc. was scheduled to take part in a lender call on Monday to launch a $50 million incremental first-lien term loan due Oct. 6, 2020 (B2/B-).

Commitments are due on Feb. 1.

The deal, via Credit Suisse Securities (USA) LLC, is an add-on to its existing term loan due Oct. 6, 2020, and will be fungible with the existing loan.

As with the existing loan, pricing features a 562.5 basis points spread to Libor with a 1% Libor floor at 97.00.

There is soft call protection for six months at 101.

The Tulsa, Okla.-based provider of alarm monitoring services plans to use the proceeds to repay a draw on its revolving credit facility.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.