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Allied Universal Closes $550 Million Notes Offering
- Client News
- August 8, 2024
Paul, Weiss represented private security and staffing company Allied Universal in its private tack-on offering of $550 million aggregate principal amount of 7.875% senior secured notes due 2031. The joint bookrunning managers for the offering were led by Morgan Stanley.
Allied Universal used the net proceeds from the offering, together with cash on hand, to redeem its remaining 6.625% senior secured notes due 2026, to repay borrowings under its asset-based lending facility, and to pay related fees and expenses.
The Paul, Weiss team was led by corporate partners Eric Wedel, Luke Jennings and Ben Steadman, and included partners Tim Cruickshank and Stefan Arnold-Soulby; intellectual property partner Claudine Meredith-Goujon; tax partner Robert Holo and counsel Patrick Karsnitz; and executive compensation counsel Jake Glazeski.