ADT eyes offering up to $2.65 billion of notes due 2024, 2026, 2027

By Wendy Van Sickle

Columbus, Ohio, March 12 – ADT Corp. said it is proposing to issue up to $2.65 billion of notes.

The company said it is considering $750 million each of first-priority senior secured notes due 2024 and of first-priority senior secured notes due 2026.

Additionally, ADT said it may concurrently issue up to $1.15 billion senior unsecured notes due 2027.

Each series of notes may be issued in one or more tranches, according to a news release Tuesday evening.

ADT said it expects to launch the offerings the week of March 18, subject to market and other conditions.

Proceeds of the Rule 144A and Regulation S offering will be used to redeem or repurchase $1 billion of 9¼% second-priority senior notes due 2023 and to repay $500 million of term loans outstanding under the company’s credit agreement.

The issuer is a Boca Raton, Fla.-based provider of home security systems and services.

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