debt
confidence high
sentiment neutral
materiality 0.65
Resideo issues $600M 6.500% Senior Notes due 2032 to repay Term B loans
RESIDEO TECHNOLOGIES, INC.
- $600M aggregate principal of 6.500% Senior Notes due July 15, 2032 issued by subsidiary Resideo Funding Inc.
- Net proceeds used to repay $596.3M of outstanding Term B loans (due 2028) plus accrued interest.
- Interest paid semi-annually on Jan 15 and Jul 15 at 6.500% per annum, first payment Jan 15, 2025.
- Notes are unsecured senior obligations, guaranteed by parent and certain domestic subsidiaries.
- Indenture includes customary covenants, change-of-control put at 101%, and optional redemption at make-whole prior to July 15, 2027.