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ADT to repay revolver debt with proceeds from planned note offering
New York, Dec. 4 – ADT Corp. plans to repay borrowings under its revolving credit facility using proceeds from a planned $400 million offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
Funds from the note sale, which is expected to be $400 million in size, will also be used for general corporate purposes.
ADT had $400 million of borrowings outstanding on its revolver with a weighted average interest rate of 1.604% as of Dec. 1.
The borrowings were used to finance the acquisition of Reliance Protectron Inc. in July and for general corporate purposes, ADT said.
ADT is a Boca Raton, Fla.-based provider of security alarm installation and monitoring services to residential and small-business customers.
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