The Firm recently represented Garda World Security Corporation (“GardaWorld”) in connection with an offering of US$500 million aggregate principal amount of 8.75% Senior Notes due 2025 and entry into new senior credit facilities, comprised of a seven-year US$862 million senior secured term loan facility, a seven-year C$100 million senior secured term loan credit facility and a five-year US$232.5 multi-tranche million senior secured revolving credit facility. The senior notes offering was conducted in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Firm also represented GardaWorld in related tenders offers for its existing 7.25% senior notes due 2021.
GardaWorld used the net proceeds from the new senior notes offering, together with proceeds from the new senior credit facilities, to fund the purchase by an entity owned by funds affiliated with Rhône Capital L.L.C. and Stephan Crétier, the CEO of GardaWorld, of the 29.4% equity interest in GardaWorld owned by funds affiliated with Apax Partners, to fund tender offers for its existing senior notes, to refinance its existing senior credit facilities and to pay related fees and expenses.
GardaWorld is one of the world's largest privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services and aviation services. GardaWorld's more than 62,000 professionals serve clients throughout North America, the Middle East, Africa and Europe. GardaWorld works across a broad range of sectors, including financial services, infrastructure, natural resources and retail, and services Fortune 500 companies, governments and humanitarian relief organizations.
The Simpson Thacher team for the transaction includes Kenneth Wallach, Brian E. Rosenzweig, John O’Connell, Yu Mizutani and Samantha Fox (Capital Markets); Scott Rudin (Credit); Jonathan Cantor and Jodi Schneider (Tax); David Rubinsky and Eric Wolf (ECEB); and Timothy Mulvihill (Environmental). Associate Evan Zinaman also provided valuable assistance.