Resideo Technologies talks $300 million eight-year notes at 4%-4¼%; pricing Tuesday

By Paul A. Harris

Portland, Ore., Aug. 10 – Resideo Technologies, Inc. talked its $300 million offering of eight-year senior notes (expected ratings B1/BB) to yield 4% to 4¼%, tight to initial guidance in the 4¼% area, according to market sources.

Books close at 2 p.m. ET on Tuesday, and the deal is set to price thereafter.

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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