ADT readies launch of $2.78 billion term loan B for Tuesday

By Sara Rosenberg

New York, Jan. 15 – ADT Inc. (Prime Security Services Borrower LLC) is scheduled to hold a lender call at 11:30 a.m. ET on Tuesday to launch a $2.779 billion first-lien term loan B due Sept. 23, 2026, according to a market source.

Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho and RBC Capital Markets are the bookrunners on the deal, with Barclays the administrative agent. Apollo Global Securities is a co-manager.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance/reprice an existing first-lien term loan B. Current pricing on the existing term loan is Libor plus 325 basis points with a 1% Libor floor.

ADT is a Boca Raton, Fla.-based provider of monitored security and interactive home and business automation solutions.

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