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 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,542.69 67 10.85%
2 JPMorgan 18,820.53 50 9.94%
3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%