Banks unveil bond leg of Verisure’s €1.6bn divi package

verisure alarm adobe stock 575x375
By Owen Sanderson
14 Jan 2021

Banks launched the bond leg of a combined €5bn refinancing for alarm company Verisure, which will raise cash for a €1.6bn dividend to shareholder Hellman & Friedman. This payment follows the transfer of the company between two H&F funds at a €14bn valuation.

On offer will be €1.15bn of secured notes and €1.27bn-equivalent of unsecured. The latter will be split between a euro tranche and a Swedish krona tranche.

The other elements of the funding package are a €2bn term loan 'B', and a €700m revolving credit facility, undrawn at closing, ...

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