Allied Universal brings $500 million secured notes to address 2026 maturity; pricing Friday

By Paul A. Harris

Portland, Ore., Feb. 1 – Allied Universal plans to price a $500 million offering of Allied Universal Holdco LLC senior secured notes due February 2031 (B3/B) on Friday, according to market sources.

Initial talk has the deal coming to yield in the low-8% area, a trader said.

The Rule 144A for life and Regulation S seven-year notes come with three years of call protection.

Morgan Stanley & Co. LLC, UBS Securities LLC, Citigroup Global Markets Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., MUFG Securities Americas Inc., SG Americas Securities LLC, Barclays, ING Financial Markets LLC, PNC Capital Markets LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., Truist Securities Inc., BMO Capital Markets Corp., Santander US Capital Markets LLC and KeyBanc Capital Markets Inc. are the joint bookrunners.

The Santa Ana, Calif.-based provider of security services plans to use the proceeds plus cash on hand to repurchase a portion of Allied Universal Holdco LLC/Allied Universal Finance Corp. 6 5/8% senior secured notes due July 2026.

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