Verisure to price €525 million six-year secured notes to yield 5½% on Tuesday

By Abigail W. Adams

Portland, Me., April 30 – Verisure Holding AB set the final tranche size and terms for its offering of six-year senior secured notes (B1/B+) with €525 million set to price with a yield of 5½%, according to a market source.

The offering had a base size of €300 million with official talk for a yield 5½% to 5¾%.

Initial price talk was for a yield in the high 5% area.

Final order confirmation took place at 8:30 a.m. ET with pricing thereafter.

The notes are non-callable for two years.

There was an investor call on Monday.

JPMorgan is global coordinator and sole physical bookrunner for the Rule 144A and Regulation S offering.

BofA Securities and Goldman Sachs are joint global coordinators and bookrunners.

BNP Paribas, Citigroup, Deutsche Bank, Morgan Stanley, Nomura and Nordea are joint bookrunners.

Proceeds will be used to repay outstanding revolving credit facility amounts and refinance the company’s term loan.

Verisure is a Switzerland-based smart alarm system company.

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