Tag: PNC Bank

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,...

PITTSBURGH—Vector Security, a large residential and commercial security provider based here, recently entered into an agreement for a $300 million revolving credit facility.“We are looking to use the funds for growth. So, we'll be using them for acquisitions, as well as some organic growth and some projects that we're going to be working on,” Pam Petrow, Vector Security's president and CEO, told Security Systems News. The funds will also refinance some of the company's existing...

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...

DELRAY BEACH, Fla.—As electronic technology becomes increasingly vital to physical security, there has been a growing need for collaboration between physical and IT security. But should corporations be striving to converge these two departments into one? Gareth Webley, chief information security officer for Eaton Corp., a $13.7 billion diversified power management company that provides electronic components for the aviation and transportation sectors, said during his keynote address at TechSec...