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Citizens Bank leads six-bank syndicate to provide new senior secured credit facility to SAFE Security

Posted By ESA Communications, Friday, April 10, 2015

Paul Sargenti, President and CEO of SAFE Security, announced that Citizens Bank, N.A. ("Citizens Bank") led a six-bank syndicate that has refinanced SAFE Security‚Äôs senior secured credit facility. The new $150 million senior facility is co-led by Citizens Bank, as Lead Left Arranger and Administrative Agent and US Bank as Co-Lead Arranger and Syndication Agent. Prospect Capital provided $25 million of unsecured subordinated debt financing to complement the senior credit facility. "In concert with our equity partners at ICV, this expansion of our senior credit facility will provide the capital that SAFE needs to execute its long-term growth strategy and stay on track with strategic acquisitions and geographic expansion," said Sargenti, who founded the company in 1988. "It also gives us financial flexibility to provide the finest security services and monitoring to our customers nationwide." 

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