Allied Security trims discount on $100 million term add-on to 99½

By Sara Rosenberg

New York, Aug. 12 - Allied Security Holdings LLC reduced the original issue discount on its $100 million term loan add-on to 99½ from 98½ to 99, according to a market source.

Pricing on the add-on is Libor plus 450 basis points with a 3.25% Libor floor, same as the existing term loan pricing.

The company is also looking to a get an $11.5 million add-on to its revolver.

Credit Suisse and Bank of America are the lead banks on the $111.5 million deal (Ba3/BB-).

Proceeds will be used to fund a dividend payment.

Allied Security is a Conshohocken, Pa.-based provider of security personnel.

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