ADI Prices $400M Senior Notes at 7.125%, Secures $1.1B Credit Facilities for Resideo Spin-Off
REZI sits 56% above its 52-week low of $20.647.
Summary
ADI, Resideo's spin-off entity, has priced $400 million in senior notes at 7.125% and completed syndication for a $600 million senior secured term loan and a $500 million revolving credit facility. This $1 billion debt package (notes and term loan) is a crucial step in establishing ADI's independent capital structure. The financing will fund a distribution to Resideo and cover transaction costs. This follows a series of recent SEC filings and news detailing the planned spin-off, including an amended credit agreement for Resideo. The spin-off is expected to be completed between mid-Q3 and mid-Q4 2026.
At the time of this announcement, REZI was trading at $32.25 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $20.65 to $45.29. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: PR Newswire.