Resideo Technologies to launch $475 million term loan B on Monday

By Sara Rosenberg

New York, Sept. 20 – Resideo Technologies Inc. is set to hold a bank meeting on Monday to launch a $475 million seven-year term loan B, according to a market source.

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

Price talk on the term loan B is Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99.5, the source said.

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

The company is also expected to get a $350 million term loan A.

Proceeds will be used to help fund the spinoff of the company from Honeywell International Inc.

Resideo is a Morris Plains, N.J.-based provider of critical comfort and security solutions primarily in residential environments.

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