GardaWorld’s $125 Million Additional Senior Notes Offering


Simpson Thacher represented Garda World Security Corporation (“GardaWorld”) in an offering of $125 million additional aggregate principal amount of 8.75% senior notes due 2025. The notes were issued as additional notes under an indenture pursuant to which Garda World issued $500 million aggregate principal amount of 8.75% senior notes due 2025 (the “Initial Notes”) in May 2017. The offering was conducted in reliance on to Rule 144A and Regulation S under the Securities Act of 1933, as amended.

GardaWorld intends to use the proceeds from the offering to repay $20 million of outstanding indebtedness under a $157.5 million revolving credit facility, which was incurred to finance a recent acquisition, to pay related fees and expenses and for general corporate purposes (which may include acquisitions).

GardaWorld is one of the world’s largest privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services and aviation services. GardaWorld’s more than 65,000 highly trained, dedicated professionals serve clients throughout North America, the Middle East, Africa and Europe. GardaWorld works across a broad range of sectors, including financial services, infrastructure, natural resources and retail, and services Fortune 500 companies, governments and humanitarian relief organizations. GardaWorld is owned indirectly by affiliates of Rhône Capital, LLC, affiliates of Stéphan Crétier, GardaWorld’s CEO, and other members of management.

The Simpson Thacher team for the transaction includes Kenneth Wallach (Picture), Brian E. Rosenzweig, Conor Colasurdo and Scott Winston (Capital Markets); Adam Shapiro (Credit); Jonathan Cantor and Jodi Schneider (Tax); and Jeanne Annarumma (ERISA).

Involved fees earner: Kenneth Wallach – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Conor Colasurdo – Simpson Thacher & Bartlett; Scott Winston – Simpson Thacher & Bartlett; Adam Shapiro – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jodi Schneider – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Garda World Security Corporation;

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Author: Ambrogio Visconti