Garda World Security Corporation (“GardaWorld” or the “Company”), an entrepreneurial-driven corporation focused on building global champions in security services, AI-enabled security technology, integrated risk management and cash automation solutions, announced today the commencement of a private offering (the “Offering”) of an additional US$200 million aggregate principal amount of its 8.250% senior notes due 2032 (the “Notes”). The Notes will rank pari passu with and form part of a single series with GardaWorld’s existing US$550 million aggregate principal amount of 8.250% senior notes due 2032 issued on July 25, 2024 (the “Initial Notes”). Concurrently with the Offering, the Company is pursuing a proposed amendment to increase its US$2,338 million term loan due 2029 by an aggregate principal amount of approximately US$300 million (the “Incremental Term Loans” and, together with the Offering, the “Transactions”). The Offering is not conditioned on the completion of the Incremental Term Loans.
The Company intends to use the net proceeds from the Offering, together with the proceeds of the Incremental Term Loans and cash on hand (i) for general corporate purposes, including potential future acquisitions, and (ii) to pay fees and expenses related to the Transactions. Pending such uses, the Company will use such proceeds to repay outstanding amounts on its senior secured revolving credit facility.
The Offering will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in the United States only to investors who are reasonably believed to be “qualified institutional buyers,” as that term is defined in Rule 144A under the Securities Act and pursuant to the prospectus exemption of section 12 of the Securities Act (Québec) for distribution of securities to persons established outside Québec, or outside the United States pursuant to Regulation S under the Securities Act and upon reliance on the accredited investor prospectus exemption in Canada. The Notes being offered will be fungible with, and trade under the same CUSIP/ISIN numbers as, the Initial Notes (except that the Notes offered pursuant Regulation S under the Securities Act will trade separately under a different CUSIP/ISIN number than the Initial Notes held through Regulation S under the Securities Act until at least 40 days after the issue date of the New Notes).
About GardaWorld
GardaWorld is an entrepreneurial-driven corporation that builds global champions in security services, AI-enabled security technologies, integrated risk management and cash automation solutions, employing more than 132,000 highly skilled and dedicated professionals across the globe. Driven by a relentless entrepreneurial culture and core values of integrity, vigilance, trust and respect, GardaWorld’s global champions offer sophisticated, tailored security and technology solutions through high-touch partnerships and consistently superior service delivery. With a deep understanding that security is critical to the organizational resilience of business operations and the safety of communities, GardaWorld is committed to impeccable governance, professional care and the well-being of everyone. Thanks to a well-earned reputation, GardaWorld businesses are long-standing security partners of choice to some of the most prominent brands, influential individuals, Fortune 500 corporations and governments.
Source : Garda World Security Corporation
