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Allied Universal sets talk in $2.96 billion three-part notes offering; pricing Wednesday
By Paul A. Harris
Portland, Ore., May 4 – Allied Universal set price talk in the $2.96 billion three-part offering of high-yield notes backing its acquisition of London-based security services provider G4S, according to market sources.
The deal features $1.675 billion of secured paper in two tranches: Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas LuxCo 4 Sarl $900 million seven-year senior secured notes (B2/B) and Atlas LuxCo 4 Sarl/Allied Universal Holdco LLC/Allied Universal Finance Corp. $775 million seven-year senior secured notes (B2/B).
The secured notes in both of those tranches are talked to yield in the 4¾% area, versus initial guidance in the high 4% to 5% area.
The sole unsecured offering, via Allied Universal Holdco LLC/Allied Universal Finance Corp., features $1.285 billion of eight-year senior
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