Resideo to refinance term loans A and B, get $500 million revolver

By Wendy Van Sickle

Columbus, Ohio, Jan. 27 – Resideo Technologies Inc. launched a process to refinance its outstanding senior secured term loan A and term loan B with the net proceeds of a new seven-year term loan B and also expects to enter into a new five-year $500 million revolver, according to a news release.

The company said it also plans to redeem up to $140 million of its outstanding senior notes.

The objectives of the refinancing are to increase the company's financial flexibility and extend its weighted average debt maturity, according to the release.

Resideo's net debt position at Dec. 31 was approximately $645 million.

Resideo is a Morris Plains, N.J.-based provider of critical comfort and security solutions primarily in residential environments.

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