Garda secures $275 million in financing
By The Canadian PressNews
Garda World Security Corp. has lined up $275 million in financing commitments to fund its growth.
Part of that money is a $62.2-million term loan from Caisse de depot et placement du Quebec, which manages $159.0 billion for public and private pension and insurance plans.
The total refinancing, which was led by TD Securities, includes a $100-million credit facility and a total of $175 million in term loans, of which $65 million matures in three years and $110 million matures in four years.
In addition to TD and the Caisse, other participants in the financing were GE Capital and Desjardins Capital.
Garda provides services such as armoured-car delivery of cash to financial institutions and security guards and airport passenger screeners, including at Toronto Pearson International Airport.
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