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Resideo plans to redeem up to $140 million senior notes
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Resideo Technologies Inc. plans to redeem up to $140 million of its outstanding senior notes, according to a news release.
The company also 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 $500 million five-year revolver.
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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