Resideo's ADI Prices $400 Million Notes, Completes $1.1 Billion Loan Syndication
MT Newswires Live
Jun 17
Resideo Technologies' (REZI) ADI Global Distribution unit has priced $400 million of senior notes due 2034 through its ADI Escrow Issuer subsidiary as part of the planned spinoff.
ADI also completed syndication for $1.1 billion in credit facilities, including a $600 million term loan and a $500 million revolving credit facility, Resideo said Tuesday in a statement.
ADI plans to use proceeds from the notes and term loan to make a distribution to Resideo tied to the spinoff and to cover related fees and expenses.
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