ADT Inc. (ADT): debt financing — ADT enters $300M receivables financing facility for solar installations via Mizuho Bank

ADT Inc.

Indirect subsidiaries Compass Solar and ADT Solar Finance signed a Receivables Financing Agreement with Mizuho Bank.
Uncommitted revolving loan facility of up to $300M secured by solar installation receivables.
Initial 1-year revolving period; if not extended, 300-month amortization to reduce loan to zero.
Interest rate equals Term SOFR (plus 0.1% credit adjustment) plus 1.0% (3.5% after termination).
ADT provided a Performance Support Agreement guaranteeing certain obligations under the facility.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ADT Inc. incurred revolving credit of up to $300,000,000 with Mizuho Bank, Ltd. at term SOFR (plus a credit adjustment spread of 0.1%) plus 1.0% maturing initial revolving period of one year...followed by an amortization period of 300 months to maturity.

Instrument: revolving credit
Principal: up to $300,000,000
Counterparty: Mizuho Bank, Ltd.
Rate: term SOFR (plus a credit adjustment spread of 0.1%) plus 1.0%
Maturity: initial revolving period of one year...followed by an amortization period of 300 months to maturity
Event: incurrence

Exact text from the filing

the Receivables Financing Agreement, among other things, provides for an uncommitted revolving loan facility in the aggregate principal amount of up to $300,000,000

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102 debt financings filed in the last 30 days. Browse all debt financings →

ADT Inc. filing history →

Source: SEC EDGAR

accession 0001703056-23-000151

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