A&O advises the initial purchasers in connection with Verisure’s EUR450m high yield bond issuance
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30 January 2023
Allen & Overy’s high yield and leveraged finance team has advised the initial purchasers in connection with the issuance today of EUR450 million 7⅛% Senior Secured Notes due 2028 by Verisure Holding AB (pub) (“Verisure”), the leading provider of monitored alarm solutions for residential households and small businesses in Europe.
The transaction, which launched and priced same day, was upsized by EUR100 million after launch. Verisure will use the net proceeds of the offering to repay drawings under its revolving credit facility and fund cash to its balance sheet.
The transaction was led by London high yield and leveraged finance partner Brad Weyland, senior associate Angela Ryu and associates Qi Xie and Ariel Aiash.
London partner Nicholas Clark and associate Simba Gonondo, and Paris partner Jean-Christophe David, senior associate Asha Sinha and associate Dusan Vukanovic also advised on the transaction.