ADT plans to sell $400 million 5.25-year bullet in Thursday drive-by

By Paul A. Harris

Portland, Ore., Dec. 4 – ADT Corp. plans to price $400 million of non-callable 5.25-year senior notes (expected ratings Ba2/BB-) on Thursday trailing a late-morning conference call with investors, according to a market source.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays, BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, Scotia Capital and Wells Fargo Securities LLC are the joint bookrunners for the public offering.

Bank of New York Mellon and Williams Capital Group LP are the co-managers.

The Boca Raton, Fla.-based provider of home security systems and services plans to use the proceeds to repay bank debt and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.