Release details

2017-04-20 17:45 CEST
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WENDEL :Allied Universal Completes Repricing of Its First Lien Term Loan Facility

Allied Universal Completes Repricing
of Its First Lien Term Loan Facility


Wendel welcomes today's announcement by Allied Universal, the leading provider of security services in North America providing clients localized response and national support with industry-leading technology solutions and approximately 140,000 highly-trained employees, that it has completed the repricing of one tranche of its First Lien Term Loan facilities and raised commitments for an incremental first lien delayed draw term loan facility.

As part of the transaction, the interest rate on the existing $1.41 billion First Lien Term Loan tranche was reduced by 75 basis points to LIBOR + 375 bps, with a 1% LIBOR floor. Additionally, Allied Universal received $100 million in commitments for a first lien delayed draw term loan facility that will be undrawn at close and will be fungible with the existing First Lien Term Loans when drawn.

As a result of the transaction, the Company expects to reduce its annual interest expense by approximately $11 million. Proceeds from the delayed draw term loan will be earmarked to help finance future acquisitions.

Wendel is a major shareholder of Allied Universal with 33% of the share capital.


Financial calendar



Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)

In Paris


H1 2017 earnings / Publication of NAV (pre-market release)

By conference call


2017 Investor Day / Publication of NAV and trading update (pre-market release)

About Wendel

Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group, SGI Africa and Tsebo in Africa and CSP Technologies in the United States.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.

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