MONTREAL, QUEBEC--(Marketwired - April 24, 2014) - Garda World Security Corporation ("GardaWorld"), one of the largest privately owned business solutions and security services companies in the world, announced today the pricing of its private offering of US$140.0 million aggregate principal amount of additional 7.25% senior notes due 2021 (the "Notes"). GardaWorld intends to use the gross proceeds from the Notes offering of approximately US$147,350,000 (excluding accrued interest), together with cash on hand, to fund a C$155.0 million distribution to its equityholders and to pay related fees and expenses. The offering is expected to close on or by April 29, 2014.
The Notes will be treated as a single series with GardaWorld's existing US$300.0 million aggregate principal amount of 7.25% senior notes due 2021 (the "Existing Notes"). The Notes will have substantially the same terms as those of the Existing Notes, except that the Notes will initially be subject to restrictions on transfer and will trade separately under different CUSIP and ISIN numbers until such transfer restrictions no longer apply, which will occur, at the earliest, on the date that is four months plus one day after the Notes are issued. Thereafter, holders of the Notes may transfer their Notes into the same CUSIP and ISIN as the Existing Notes issued pursuant to Rule 144A or Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), as applicable.
The offering of the Notes will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act, in the United States only to investors who are "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act, or outside the United States pursuant to Regulation S under the Securities Act and upon reliance on the accredited investor exemption in Canada.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of securities in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or Canada without registration or an applicable exemption from registration requirements or an applicable exemption from the prospectus requirements of Canadian securities legislation.
About GardaWorld
Headquartered in Montreal, Canada, GardaWorld provides business solutions and security services around the world. Our 45,000 highly trained, dedicated professionals serve clients throughout North America, Latin America, Europe, Africa, Asia and the Middle East. GardaWorld works across a broad range of sectors, including natural resources, retail, construction, telecommunications and manufacturing, and on behalf of Fortune 500 companies, governments, NGOs and humanitarian relief organizations. For more information, visit www.garda.com.
Cautionary Statement on Forward Looking Statements
Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the applicable securities laws, including Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GardaWorld's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding the company's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GardaWorld believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the company, they may prove to be incorrect. The company cautions the reader that the current economic conditions make forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from the company's expectations. It is impossible for GardaWorld to predict with certainty the impact that the current economic may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what GardaWorld currently expects. These factors include growth management, market competition, cost of financing, government regulations, collective bargaining, currency fluctuations, credit risk, reputational risk and financial covenants risk, many of which are beyond the company's control. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. We will not update these statements unless applicable securities laws require us to do so.
