Garda plans $140 million tap of 7¼% notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., April 24 - Garda World Security Corp. plans to price a $140 million add-on to its 7¼% senior notes due 2021 (existing ratings B3/B-) on Thursday, according to market sources.

BofA Merrill Lynch, RBC Capital Markets, Deutsche Bank Securities Inc., Mizuho Securities and TD Securities are joint bookrunners for the Rule 144A and Regulation S offer.

The notes become callable on Nov. 15, 2016 at 105.438.

The Montreal-based provider of business solutions and security services plans to use the proceeds, together with cash on hand, to fund a C$155 million distribution to its equity holders.

The original $300 million issue priced at par on Nov. 1, 2013.

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