ADT amends receivables facility: size increased to $550M, term to April 2025

ADT Inc.

Facility capacity raised from $500M to $550M uncommitted.
Termination date extended from April 10, 2024 to April 10, 2025.
Eligible receivables expanded to include alarms and products sold but not installed.
Collateral tests and advance rates amended; ADT Inc. reaffirmed Performance Support Agreement.
Loan rebalancing among lenders executed; specific amounts redacted in Exhibit 10.1.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ADT Inc. amended Sixth Amendment to Receivables Financing Agreement with Mizuho Bank, Ltd., MUFG Bank Ltd., Starbird Funding Corporation, and BNP Paribas valued at $550 million (effective 2024-04-10).

Action: amendment
Agreement: credit facility
Counterparty: Mizuho Bank, Ltd., MUFG Bank Ltd., Starbird Funding Corporation, and BNP Paribas
Value: $550 million
Effective: 2024-04-10

Exact text from the filing

On April 10, 2024, ADT LLC (“ADT”) and ADT Finance LLC (“ADT Finance”) entered a Sixth Amendment to the Receivables Financing Agreement, among ADT Finance, Mizuho Bank, Ltd., ADT, MUFG Bank Ltd., Starbird Funding Corporation, and BNP Paribas (the “Sixth Amendment to Receivables Financing Agreement”).

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Source: SEC EDGAR

accession 0001193125-24-094787

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