Securitas enters into a 4+1 year term loan agreement refinancing a major part of the existing acquisition bridge facility

Rhea-AI Summary

Securitas has secured a four-year term loan agreement of MEUR 1,100 with nine banks, aimed at refinancing a substantial portion of its MUSD 2,315 bridge facility linked to the acquisition of STANLEY Security, finalized on July 22, 2022. CFO Andreas Lindback stated that this long-term loan provides competitive terms and enhances the company's future funding flexibility. The participating banks include Danske Bank, SEB, and others. This refinancing aligns with Securitas' plans to manage existing debt effectively and streamline its financial obligations.

Positive

• Secured a term loan of MEUR 1,100 at competitive rates.
• Refinancing the bridge facility demonstrates effective financial management.
• Increased flexibility for future funding strategies.

Negative

• None.

STOCKHOLM, Jan. 19, 2023 /PRNewswire/ -- Securitas enters into a four-year term loan agreement of MEUR 1 100 together with nine of its relationship banks, with the option for the parties to extend one additional year.

The proceeds will be used to refinance a large part of the remaining MUSD 2 315 bridge facility related to the acquisition of STANLEY Security which was closed on July 22, 2022.

"By entering into the long-term loan agreement we secure a major part of the remaining bridge facility after the STANLEY transaction with long-term debt at competitive terms. It also creates flexibility in the future funding strategy as the facility can be repaid in advance. The refinancing of the remaining part of the bridge facility is going according to plan", says Andreas Lindback, CFO of Securitas.

The banks participating in the term loan are Danske Bank and SEB as Bookrunners and Mandated Lead Arrangers, together with Bank of America, BBVA, Crédit Industriel et Commercial (CIC), Commerzbank, ING, KBC and UniCredit Bank Austria as Mandated Lead Arrangers.

Further information:

Investors: Micaela Sjökvist, Vice President, Investor Relations; +46 76 116 7443, micaela.sjokvist@securitas.com

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 20.00 (CET) on January 18, 2023.

Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Almost nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, combined with an innovative, holistic approach, we're transforming the security industry. With 350 000 employees in 47 markets, we see a different world and create sustainable value for our clients by protecting what matters most - their people and assets.

The following files are available for download:

https://mb.cision.com/Main/1062/3699899/1790514.pdf

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SOURCE Securitas

FAQ

What is the purpose of Securitas' new term loan agreement?

The term loan aims to refinance a large part of Securitas' existing bridge facility related to the STANLEY Security acquisition.

How much is Securitas' new term loan?

The new term loan agreement is for MEUR 1,100.

Who are the banks involved in Securitas' loan agreement?

The participating banks include Danske Bank, SEB, Bank of America, BBVA, and several others.

When was the STANLEY Security acquisition completed?

The acquisition of STANLEY Security was completed on July 22, 2022.

How does this refinancing impact Securitas' financial strategy?

The refinancing strengthens Securitas' financial strategy by securing long-term debt at competitive terms and providing flexibility in funding.