ADT announced that its indirect wholly owned subsidiary, The ADT Security Corporation, is proposing to issue and sell $1.0 billion aggregate principal amount of first-priority senior secured notes due 2033 in an offering that will be exempt from the registration requirements of the Securities Act of 1933, as amended. The Company intends to use the proceeds from the Offering, together with the proceeds from the incurrence of an additional $300 million principal amount of incremental first lien senior secured term loans and cash on hand, to fund the redemption of all $1.3 billion outstanding 6.250% Second-Priority Senior Secured Notes due 2028 issued by Prime Security Services Borrower and Prime Finance, the Company’s indirect wholly owned subsidiaries.
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