Central Security launches $25 million incremental loan at 99.5 OID

By Sara Rosenberg

New York, March 29 – Central Security Group Inc. held a lender call at 10 a.m. ET on Thursday to launch a $25 million incremental first-lien term loan due Oct. 6, 2021 with original issue discount talk of 99.5, according to a market source.

Pricing on the incremental loan is Libor plus 562.5 basis points with a 1% Libor floor, in line with existing term loan pricing, the source said.

The incremental loan has 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Commitments are due on April 5, the source added.

Proceeds will be used to pay down revolving credit facility borrowings.

Central Security is a Tulsa, Okla.-based provider of alarm monitoring services.

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