Resideo Technologies lifts term loan B amount to $950 million

By Sara Rosenberg

New York, Feb. 5 – Resideo Technologies Inc. upsized its seven-year term loan B to $950 million from $800 million, according to a market source.

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

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

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

Commitments are due at noon ET on Monday, accelerated from noon ET on Tuesday, the source added.

Proceeds will be used to refinance an existing senior secured term loan A and term loan B, to redeem $140 million of outstanding senior notes, to fund future acquisitions and for general corporate purposes.

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.

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