ADT Inc. Announces Pricing of First-Priority Notes
22 March 2019 - 8:50AM
ADT Inc. (NYSE: ADT) (the “Company” or “ADT”), a leading provider
of security and automation solutions in the United States and
Canada, announced today that Prime Security Services Borrower, LLC
(the “Issuer”) and Prime Finance Inc. (the “Co-Issuer” and,
together with the Issuer, the “Issuers”), its indirect wholly owned
subsidiaries, priced offerings of (i) $750.0 million aggregate
principal amount of 5.250% first-priority senior secured notes due
2024 (the “2024 Notes”) and (ii) $750.0 million aggregate principal
amount of 5.750% first-priority senior secured notes due 2026 (the
“2026 Notes” and together with the 2024 Notes, the “Notes”) that
are exempt from the registration requirements of the Securities Act
of 1933, as amended (the “Securities Act”) (the “Offerings”).
The Offerings are expected to close on April 4, 2019, subject to
certain conditions. The proceeds from the Offerings will be used to
(i) repurchase or redeem, as the case may be, up to
$1,000.0 million outstanding aggregate principal amount of the
Issuers’ 9.250% Second-Priority Senior Secured Notes due 2023 and
(ii) repay $500.0 million of outstanding term loans under
the Issuer’s existing credit agreement.
The Notes are being offered only to qualified institutional
buyers in reliance on Rule 144A under the Securities Act, and
outside the United States, only to non-U.S. investors pursuant to
Regulation S. The Notes will not be registered under the Securities
Act or the securities laws of any other jurisdiction and may not be
offered or sold in the United States absent an effective
registration statement or an applicable exemption from registration
requirements or a transaction not subject to the registration
requirements of the Securities Act or any state securities
laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful. This
press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act.
About ADT
ADT is a leading provider of security and automation
solutions in the United States and Canada, protecting homes
and businesses, people on-the-go and digital networks. Making
security more accessible than ever before, and backed by
24/7 customer support, ADT is committed to providing superior
customer service with a focus on speed and quality of
responsiveness, helping customers feel safer and empowered.
ADT is headquartered in Boca Raton, Florida and
employs approximately 19,000 people throughout North
America.
Forward-Looking Statements
ADT has made statements in this press release and other reports,
filings, and other public written and verbal announcements that are
forward-looking and therefore subject to risks and
uncertainties. All statements, other than statements of
historical fact, included in this document are, or could be,
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and are made in reliance
on the safe harbor protections provided thereunder. These
forward-looking statements relate to anticipated financial
performance, management’s plans and objectives for future
operations, business prospects, outcome of regulatory proceedings,
market conditions and other matters. Any forward-looking statement
made in this press release speaks only as of the date on which it
is made. ADT undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise. Forward-looking
statements can be identified by various words such as “expects,”
“intends,” “will,” “anticipates,” “believes,” “confident,”
“continue,” “propose,” “seeks,” “could,” “may,” “should,”
“estimates,” “forecasts,” “might,” “goals,” “objectives,”
“targets,” “planned,” “projects,” and similar
expressions. These forward-looking statements are based on
management’s current beliefs and assumptions and on information
currently available to management. ADT cautions that these
statements are subject to risks and uncertainties, many of which
are outside of ADT’s control, and could cause future events or
results to be materially different from those stated or implied in
this document, including among others, risk factors that are
described in the Company’s Annual Report on Form 10-K and other
filings with the Securities and Exchange Commission, including the
sections entitled “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations”
contained therein.
Investor Relations:Jason Smith – ADT
investorrelations@adt.com
Media Relations Mónica Talán mtalan@adt.com
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