Tag: credit facility

PITTSBURGH—Vector Security, a provider of residential and commercial security and automation solutions, announced this week it has entered into a $450 million credit agreement led by PNC Bank, with National Association as Administrative Agent; PNC Capital Markets LLC as Sole Bookrunner and Joint Lead Arranger; and with Bank of America and U.S. Bank acting as Joint Lead Arrangers and Syndication Agents. This new credit agreement provides for a $450 million revolving credit facility commitment,...

VANCOUVER, British Columbia—Video surveillance and access control provider Avigilon on July 18 filed documents to amend its existing $240 million multi-tranche senior secured syndicated credit facility. Security Systems News has previously reported on this credit facility. Originally closed on April 7, 2015, the facility's maturity date has been extended from April 7, 2018 to April 7, 2019. I spoke to Avigilon's Darren Seed about the deal. Among the changes is one item which ups the price of...

VANCOUVER, Avigilon on Nov.16 announced that it has increased its existing multi-tranche senior secured syndicated credit facility from $200 million to $240 million. The original credit facility was announced in April. The credit facility now includes a $100 million multi-currency revolving acquisition facility, a $40 million real estate term loan, and a $100 million multi-currency revolving line of credit, which remains undrawn at this time. Previously, the revolver was limited to $60 million. Other...

OREM, Utah—NorthStar Alarm Services has increased its credit facility to $80 million, doubling it in 20 months, according to CEO Jason Christensen.“The new credit facility is to support our growth goals over the next few years,” Christensen told Security Systems News.Bank of America was the lead bank for the financing. Other participants included The Private Bank, Capital Source and Capital One.In January, NorthStar acquired certain assets of Vision Security, extending its security...

BELTSVILLE, Md.—ASG in January upped its credit facility to $300 million.This is the second time the super-regional has increased its credit limit in 10 months. In April 2013, ASG increased its credit facility from $250 million to $270 million.At that time, Ralph Masino, ASG CFO, said that the super-regional had the opportunity to up the revolver by another $30 million. The same is true this time. “We increased it by $30 million and we reset the ability to add another $30 million if we'd...

LOS ANGELES—DTT Surveillance, which announced in July that it would open a new office in Las Vegas, hire 500 new employees and enter two new vertical markets, now has $60 million to expand on those plans.“It's fuel for the fire,” Sam Naficy, DTT president and CEO, told Security Systems News. “We've had strong growth in our core hospitality space and our two new vertical markets—specialty retail and the convenience store space, which we launched in July—have done...

PITTSBURGH—Vector Security will use new financing to make acquisitions and investments that will better position the company for growth in the commercial space.   Vector, based here, announced July 28 the completion of a new $225 million credit facility that includes $75 million in new financing.   Vector CEO Pam Petrow told Security Systems News that the funding will be used to invest in three different areas.   “The first will be acquisitions [that position...