Tyco International Group S.A., a unit of Tyco International Ltd., the world's biggest maker of alarms, is planning a private sale of $1 billion of 10-year notes as soon as today, rating company Standard & Poor's said in a report.

Proceeds will be used to repay debt, S&P said. The notes will be guaranteed by Bermuda-based Tyco International Ltd., S&P said.

Tyco International Group S.A. is based in Luxembourg. It's a holding company that indirectly owns a portion of Tyco's operating subsidiaries. The notes are rated Baa2 by Moody's Investors Service and BBB by Standard & Poor's, both the second lowest investment grade level. ? Bloomberg