Securus Technologies, Inc. Announces Successful Completion of $220 Million Financing Transaction

DALLAS, May 3 /PRNewswire/ -- Securus Technologies, Inc., a leading provider of inmate communications service and offender and case management software design, today announced that it had successfully completed a $220 million refinancing of its existing senior debt with a senior secured credit facility of $185 million term loan and a $35 million revolver.  The transaction will enable the refinancing of the existing $194 million 11.0% second priority senior secured notes due in 2011, the existing revolver facility, and approximately $98 million of senior subordinated payment in kind notes due in 2014.  Jefferies Finance LLC led the transactions, as Arranger, Syndication Agent, and Book Manager.

Richard A. Smith, Chairman and CEO of Securus Technologies said, "The transaction just completely exceeded our expectations and we met all of our objectives.  We will pay significantly lower cash interest, we now have less debt, we now have the ability to acquire companies in our sector, we extended the maturities of our debt, we also now have the ability to provide performance bonding for the largest new facility contracts, and we were able to achieve excellent rates and terms.  The transaction is strategically important to Securus because it will allow us to continue to upgrade our best in class Secure Call Platform (SCP) for products and services that the corrections industry requires to do their jobs and also allows us to complete our Call Center located in Dallas, Texas that will better serve the needs of inmates and friends and family members of inmates. So – the transaction serves the needs of all of our customer segments – a great transaction for all our constituents."

About Securus

Securus Technologies, Inc. is one of the largest suppliers of detainee communications and information management solutions, serving approximately 2,400 correctional facilities and 850,000 inmates nationwide. A recognized leader in providing comprehensive, innovative technical solutions and responsive customer service, Securus' sole focus is the specialized needs of the corrections and law enforcement communities. Securus is headquartered in Dallas, TX, with other locations in Carrollton and Allen, TX and Atlanta, GA.  For more information please visit the Securus website at www.securustech.net.

Syscon Holdings, Ltd., our wholly-owned subsidiary headquartered in Vancouver, British Columbia, is a world leader in innovative Offender and Case Management Software design and delivery. Syscon's Elite and Exact systems offer management functionality from booking and legal documentation through trust accounting, commissary, and medical records to the management of parole and other forms of community supervision. Syscon's systems have been implemented in many states and large counties across North America, in Australia and in England. Syscon solutions help manage more than 400,000 inmates and former inmates every day.  For more information about Syscon, please visit www.syscon.net.

SOURCE Securus Technologies, Inc.