Allied Universal Announces Early Results of Cash Tender Offer for 6.625% Senior Secured Notes Due 2026

IRVINE, CA / ACCESSWIRE / May 20, 2024 / Allied Universal Holdco LLC and Allied Universal Finance Corporation have revealed the early results of their cash tender offer for up to $739,000,000 in aggregate principal of their outstanding 6.625% Senior Secured Notes due 2026.

As per Global Bondholder Services Corporation, by 5:00 p.m. New York City time on May 20, 2024, Allied Universal received valid tenders totaling $802,324,000, representing about 84.9% of the principal amount of the Notes. Due to the high response, tenders will be prorated, with accepted tenders anticipated to settle on May 22, 2024.

The tender offer is linked to Allied Universal’s recent $500 million offering of 7.875% Senior Secured Notes due 2031. The early tender results indicate a strong response, leading to a fully subscribed tender offer.

The settlement and purchase of the Notes are subject to the completion of the new offering and the incremental loan arrangement, highlighting Allied Universal’s strategic financial adjustments.