ADT readies launch of $800 million incremental term loan for Tuesday

By Sara Rosenberg

New York, Jan. 27 – ADT Corp. is scheduled to hold a lender call at 2 p.m. ET on Tuesday to launch a fungible $800 million covenant-light incremental term loan due May 2, 2022, according to a market source.

Barclays is the lead bank on the deal.

Proceeds will be used to fund distributions to the company’s equity holders and pay related fees and expenses, the source said.

Apollo is the sponsor.

ADT is a security services company.

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