ADT to redeem some second-lien notes, preferreds via $2 billion IPO

By Susanna Moon

Chicago, Jan. 5 – ADT Corp. said it plans to redeem some its outstanding second-lien notes and its preferred securities using proceeds of a $2 billion initial public offering of common stock.

ADT plans to offer 111,111,111 common shares at a price of between $17.00 and $19.00 per share with a 30-day over-allotment option for another 16,666,667 shares, according to a company announcement.

The issuer is a Boca Raton, Fla., security services company.

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