Allied Universal to launch $950 million, €715.5 million loans Thursday

By Sara Rosenberg

New York, April 21 – Allied Universal is scheduled to hold an investor call at 10 a.m. ET on Thursday to launch a $950 million seven-year covenant-lite first-lien term loan B and a €715.5 million seven-year covenant-lite first-lien term loan B, according to a market source.

Credit Suisse, Morgan Stanley, Deutsche Bank, BNP Paribas, HSBC Securities, Mizuho, Societe Generale, ING Capital LLC, MUFG and Truist Securities are the bookrunners on the deal, with Credit Suisse the left lead and agent.

Both term loans have 101 soft call protection for six months and amortization of 1% per annum, the source said.

Expected term loan ratings are B3/B-/BB-.

Commitments are due at 5 p.m. ET on May 4 for the U.S. loan and at noon ET on May 4 for the euro loan, the source added.

Proceeds will be used to help fund the acquisition of G4S plc for 245 pence in cash per share. The transaction is valued at £3.8 billion.

Warburg Pincus and CDPQ are the sponsors.

Allied Universal is a Santa Ana, Calif.-based provider of security services. G4S is a London-based security services company.

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