Interface Security talks $225 million five-year notes with 9¼%-9½% coupon at par

By Paul A. Harris

Portland, Ore., Jan. 14 - Interface Security Systems Holdings, Inc. and Interface Security Systems LLC set price talk for their $225 million offering of five-year senior secured notes (B3/B-) with a coupon of 9¼% to 9½% at par, an informed source said on Monday.

The deal is set to price and allocate on Tuesday afternoon.

Imperial Capital is the manager.

The Rule 144A and Regulation S with registration rights notes become callable in 2.5 years at par plus 50% of the coupon.

Proceeds will be used to refinance debt and for general corporate purposes.

The prospective issuer is an Earth City, Mo.-based provider of physical security and secured managed network services.

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