Protection One Secures Add-On

Protection One received a $66.8 million add-on last Wednesday, increasing the size of its term loan to $300 million.

  • 14 Apr 2006
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Protection One received a $66.8 million add-on last Wednesday, increasing the size of its term loan to $300 million. Pricing is LIBOR plus 2 1/2% on the loan, which launched last March at $250 million and was paid down to $233.2 million. Bear Stearns leads the add-on, which will be used along with cash-on-hand, to fund a $75 million dividend. Quadrangle Group is a majority investor.

In March 2005, Bear Stearns and Lehman Brothers led the $275 million deal for the alarm monitoring company that consisted of a five-year, $25 million revolver and a six-year, $250 million term loan "B." The revolver was priced at LIBOR plus 3 1/4% and the term loan was priced at LIBOR plus 3% (LMW, 3/25). The size and pricing of the revolver did not change. Moody's assigned a B2 rating to the add-on and affirmed the B2 rating of the senior secured credit facility. Calls to officials at Quadrangle Group and Protection One were not returned.

  • 14 Apr 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,398.62 338 11.04%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%