Loan & DebtMay 28, 2026, 04:49 PM
ADT Secures $100M Incremental Term A Loans; Board Re-elects Directors
AI Summary
ADT Inc.'s subsidiaries, Prime Security Services Borrower, LLC and The ADT Security Corporation, secured $100 million in incremental first lien senior secured term A loans. This increases the total outstanding amount to approximately $422.97 million, with proceeds designated for general corporate purposes. Additionally, at its Annual Meeting, stockholders re-elected three directors, approved executive compensation on an advisory basis, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2026. Two directors, designees of Apollo Global Management, Inc., resigned prior to the meeting.
Key Highlights
- ADT's subsidiaries incurred $100,000,000 in incremental first lien senior secured term A loans.
- Total outstanding first lien senior secured term A loans now approximately $422,969,000.
- Proceeds from the new loans will be used for general corporate purposes.
- Stockholders re-elected Thomas Gartland, Danielle Tiedt, and Sigal Zarmi to the Board.
- Executive compensation was approved on an advisory basis with 586,573,380 votes for.
- PricewaterhouseCoopers LLP was ratified as the independent auditor for fiscal year 2026.
- Two Apollo-designated directors resigned prior to the Annual Meeting and were withdrawn as nominees.
Price Impact
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