G4S sells bonds to raise $526 million

Bloomberg News reported today that G4S will be raising $526 million dollars by selling 10-year bonds, its first note issue.G4S is considered the world's largest security company, working in over 100 countries and employing more than 500,000.

The company, which is headquartered in England, has grown significantly in the last decade, acquiring Securicor in 2004 (which formed G4S, which had previously been known as Group 4 Falck), as well as Rock Steady Group and ArmorGroup International in 2008. The company provides security guard services as well as operations for some government security operations, plus cash handling.

Bloomberg reported that the bonds will be used to "extend the lifetime of the company's existing debt and its reliance on bank loans".

See the original article on Bloomberg.com.