Frontdoor completes $585M acquisition of 2-10 Home Buyers Warranty, prices $1.47B credit facility

Frontdoor, Inc.

Purchased 2-10 Home Buyers Warranty for $585M all-cash, subject to customary closing adjustments.
Priced $1.47B credit facility: $418M Term Loan A, $800M Term Loan B, and $250M revolving credit.
Proceeds used to retire existing Term A/B debt and fund the acquisition; remainder for share repurchases or general corporate.
Acquisition immediately grows Frontdoor’s customer base, revenue, and earnings.
Diversifies portfolio into New Home Structural Warranty category and opens cross-selling opportunities.

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