Rentokil increases debt to buy Terminix, may need $700 million more

Chicago, Sept. 8 – Rentokil Initial plc has incurred approximately $2 billion of additional debt for its acquisition of Terminix Global Holdings, Inc., according to a 6-K filing with the Securities and Exchange Commission.

The company initially took out a $2.7 billion bridge loan that it replaced with senior notes on June 27, in the amounts of £400 million and €1.45 billion.

However, the company said it could need another $700 million to complete the transaction.

The long stop date is Dec. 31 for the acquisition.

Rentokil is a business services company based in London. Terminix is a pest management business.

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