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GardaWorld Announces Proposed Refinancing
MONTRÉAL, QUÉBEC--(Marketwired - April 7, 2017) - Garda World Security Corporation ("GardaWorld"), one of the world's largest privately owned security and cash services providers, announced today that in connection with the completion of the previously announced purchase by an affiliate of GardaWorld of the stock of its indirect parent company held by funds advised by Apax Partners LLP (see press release dated March 24, 2017) (the "Stock Purchase"), GardaWorld intends to refinance its existing indebtedness (the "Existing Indebtedness") outstanding under its senior secured credit facilities and its U.S. dollar denominated senior unsecured notes due 2021 (the "Existing Notes"). GardaWorld expects to refinance its Existing Indebtedness with a portion of the proceeds of financing transactions (the "Financing Transactions") consisting of (i) C$71 million in equity contributions, (ii) new senior secured credit facilities (the "Senior Secured Credit Facilities") consisting of (a) a US$240 million senior secured revolving credit facility, available for borrowings in either U.S. dollars or Canadian dollars; and (b) US$980 million senior secured term loan B facilities consisting of loans in U.S. dollars and Canadian dollars and (iii) US$630 million aggregate principal amount of new senior unsecured notes. At the closing of the Senior Secured Credit Facilities, GardaWorld expects the revolving credit facility will be undrawn and each of the term loan facilities will be fully drawn.
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