Loan & DebtJun 4, 2026, 04:25 PM
Resideo Amends Credit Agreement for $2.83B Financing; Facilitates ADI Spin-Off
AI Summary
Resideo Technologies, Inc. entered into a Second Amended and Restated Credit Agreement on June 4, 2026, providing up to approximately $2,827 million in senior secured financing. This agreement facilitates the previously disclosed spin-off of the Company's ADI Global Distribution segment. The financing includes existing term loan facilities totaling approximately $2,327 million and a new $500 million undrawn revolving credit facility. No new borrowings were made on the effective date, and the obligations are guaranteed by the Company and its U.S. subsidiaries, secured by first-priority interests in equity and assets.
Key Highlights
- Resideo entered a Second Amended and Restated Credit Agreement on June 4, 2026.
- The agreement provides up to approximately $2,827 million in senior secured financing.
- It includes existing term loan facilities totaling approximately $2,327 million.
- A new $500 million senior secured revolving credit facility was established, currently undrawn.
- The agreement facilitates the previously disclosed spin-off of the ADI Global Distribution segment.
- Revolving Credit Facility matures in 5 years; term loans mature between 2028 and 2032.
- No new borrowings were made under the Senior Credit Facilities on the effective date.
- ADI Spin-Off Entities will make a prepayment of at least $900,000,000.
Price Impact
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