ADT Inc. Announces Pricing of Second-Priority Senior Secured Notes
January 16 2020 - 4:41PM
ADT Inc. (NYSE: ADT) (the “Company” or “ADT”), a leading provider
of security, automation, and smart home solutions serving consumer
and business customers in the United States, announced today that
Prime Security Services Borrower, LLC (the “Issuer”) and Prime
Finance Inc. (the “Co-Issuer” and, together with the Issuer, the
“Issuers”), its indirect wholly owned subsidiaries, priced their
previously announced offering of $1,300 million aggregate principal
amount of 6.25% second-priority senior secured notes due 2028
(“Notes”) that are exempt from the registration requirements of the
Securities Act of 1933, as amended (the “Securities Act”) (the
“Offering”).
The Offering is expected to close on January 28, 2020, subject
to certain conditions.
The Company expects to use the proceeds from the Offering, along
with cash on hand and borrowings under its revolving credit
facility, to (i) redeem the outstanding $1,246 million aggregate
principal amount of its 9.250% Second-Priority Senior Secured Notes
due 2023 in full and (ii) pay related fees and expenses in
connection with the transactions.
The Notes are being offered only to persons reasonably believed
to be qualified institutional buyers in reliance on Rule 144A under
the Securities Act, and outside the United States, only to non-U.S.
investors pursuant to Regulation S. The Notes will not be
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United
States absent an effective registration statement or an applicable
exemption from registration requirements or a transaction not
subject to the registration requirements of the Securities Act or
any state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful. This
press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act.
About ADT
ADT is a leading provider of security, automation, and smart
home solutions serving consumer and business customers through more
than 200 locations, 9 monitoring centers, and the largest network
of security professionals in the United States. The Company offers
many ways to help protect customers by delivering lifestyle-driven
solutions via professionally installed, do-it-yourself, mobile, and
digital-based offerings for residential, small business, and larger
commercial customers. For more information, please
visit www.adt.com or follow
on Twitter, LinkedIn, Facebook,
and Instagram.
Forward-Looking Statements
ADT has made statements in this press release and other reports,
filings, and other public written and verbal announcements that are
forward-looking and therefore subject to risks and
uncertainties. All statements, other than statements of
historical fact, included in this document are, or could be,
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and are made in reliance
on the safe harbor protections provided thereunder. These
forward-looking statements relate to anticipated financial
performance, management’s plans and objectives for future
operations, business prospects, outcome of regulatory proceedings,
market conditions and other matters. Any forward-looking
statement made in this press release speaks only as of the date on
which it is made. ADT undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future developments or otherwise.
Forward-looking statements can be identified by various words such
as “expects,” “intends,” “will,” “anticipates,” “believes,”
“confident,” “continue,” “propose,” “seeks,” “could,” “may,”
“should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,”
“targets,” “planned,” “projects,” and similar expressions.
These forward-looking statements are based on management’s current
beliefs and assumptions and on information currently available to
management. ADT cautions that these statements are subject to
risks and uncertainties, many of which are outside of ADT’s
control, and could cause future events or results to be materially
different from those stated or implied in this document, including
among others, risk factors that are described in the Company’s
Annual Report on Form 10-K and other filings with the Securities
and Exchange Commission, including the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” contained therein.
Investor Relations:Jason Smith – ADT
investorrelations@adt.com Tel: 888-238-8525
Media Relations Paul Wiseman
paulwiseman@adt.comTel: 561-356-6388
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