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The Globe and Mail

Garda World secures $275-million of financing

Christinne Muschi/christinne muschi

Garda World Security Corp. , a Montreal-based company that provides cash management and security services across Canada and the United States, 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 of 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.

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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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