Sector Alarm follows suit in repricing divi deal
Sector Alarm, the Norwegian-based home security company, is looking to reprice its leveraged loan debut from last year, cutting the margin on the €590m facility from 350bp at issue down to 300bp-325bp. The move follows a wave of loan repricings and refinancings from some of the largest issuers, as credit markets continue to tighten despite increased jitters around global growth and the spread of coronavirus.
Bank of America and Morgan Stanley, the original arrangers of the 2019 loan, are running the repricing, along with KKR Capital Markets, the private equity firm that took a 30% stake in the founder-owned business last year.The original loan funded a €250m dividend payment, and was ...
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