Adt inc. announces tender offers for up to an aggregate of $300 million outstanding 6.250% second-priority senior secured notes due 2028 and 4.875% first-priority senior secured notes due 2032

Boca raton, fla., dec. 04, 2020 (globe newswire) -- adt inc. (nyse: adt) (the “company” or “adt”), a leading provider of security, automation, and smart home solutions serving consumer and business customers in the united states, today announced that prime security services borrower, llc, prime finance inc. and the adt security corporation (the “offerors”), each a wholly-owned subsidiary of adt, have commenced tender offers to purchase (the “tender offers”) up to $300 million aggregate principal amount (the “aggregate offer limit”) of their outstanding 6.250% second-priority senior secured notes due 2028 (the “2028 notes”) and 4.875% first-priority senior secured notes due 2032 (the “2032 notes” and together with the 2028 notes, the “notes”). adt will fund the offers with cash on hand.  in september 2020, adt received $450 million of gross proceeds from an equity investment in the company by google, and has stated its intention to use these proceeds to reduce debt and fund growth investments in 2020 and beyond.
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