Resideo Technologies to sell $300 million eight-year notes on Tuesday; initial talk 4¼% area

By Paul A. Harris

Portland, Ore., Aug. 9 – Resideo Technologies, Inc. plans to price a $300 million offering of eight-year senior notes on Tuesday, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with initial guidance in the 4¼% area.

Left bookrunner Morgan Stanley & Co. LLC will bill and deliver. BofA Securities Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

BNP Paribas Securities Corp., Citizens Capital Markets Inc., PNC Capital Markets LLC, RBC Capital Markets LLC, Truist Securities Inc. and U.S. Bancorp Investments Inc. are the co-managers.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon.

The Austin, Tex.-based manufacturer of technology focused products plans to use the proceeds to refinance its 6 1/8% senior notes due 2026, with any remaining proceeds to be used for general corporate purposes.

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