ADT closes $600M term loan to redeem 2023 senior notes

On March 14, 2023, Prime Security Services Holdings, LLC (“ Holdings ”), a Delaware limited liability company and a wholly owned direct subsidiary of ADT Inc. (the “ Company ”), Prime Security Services Borrower, LLC, a Delaware limited liability company and a wholly owned direct subsidiary of Holdings (“ Borrower ”), and The ADT Security Corporation, a Delaware corporation and a wholly owned direct subsidiary of Borrower (“ ADTSC ”, and together with the Borrower, the “ Borrowers ”), entered into a term loan credit agreement (the “ Credit Agreement ”) with Barclays Bank PLC, as administrative agent, and the lenders party thereto, pursuant to which such lenders have provided the Borrowers with an aggregate principal amount of $600 million of term loans (the “ Closing Date Term Loans ”) under a senior secured term loan A facility (the “ Term Loan A Facility ”).

On March 14, 2023, Holdings, the Borrowers and the subsidiary loan parties party thereto entered into an Incremental Assumption and Amendment Agreement No. 1 to the Credit Agreement (the “ Incremental Amendment ”) with the Administrative Agent and the lenders party thereto, pursuant to which such lenders have agreed, at the option of the Borrowers and subject to the satisfaction or waiver of customary conditions, to provide the Borrowers with an aggregate principal amount of $50 million of incremental term loans (the “ Incremental Term Loans ”) under the Term Loan A Facility on or before the scheduled maturity date of the 2023 Notes, which is June 15, 2023.