Resideo readies launch of $800 million term loan B for Thursday

By Sara Rosenberg

New York, Jan. 27 – Resideo Technologies Inc. is set to hold a lender call on Thursday to launch an $800 million seven-year term loan B, according to a market source.

J.P. Morgan Securities LLC is the lead on the deal.

Price talk on the term loan is Libor plus 250 basis points to 275 bps with a 0.5% Libor floor and an original issue discount of 99.5, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Feb. 9, the source added.

Proceeds will be used to refinance an existing senior secured term loan A and term loan B and redeem $140 million of outstanding senior notes.

The company also plans on getting a new $500 million five-year revolving credit facility.

Resideo is an Austin, Tex.-based provider of home comfort and security solutions.

© 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.