ADT lifts spread on $1.38 billion term loan B to SOFR plus 225 bps

By Sara Rosenberg

New York, April 1 – ADT Inc. (Prime Security Services Borrower LLC) increased pricing on its $1.375 billion term loan B due Oct. 13, 2030 to SOFR plus 225 basis points from SOFR plus 200 bps, according to a market source.

Also, the issue price on the term loan firmed at par, the tight end of the 99.75 to par talk, the source said.

The term loan still has a 0% floor and 101 soft call protection for six months.

Barclays is the lead on the deal and the administrative agent.

Recommitments were scheduled to be due at noon ET on Monday, the source added.

Proceeds will be used to reprice the company’s existing term loan B due 2030 down from SOFR plus 250 bps with a 0% floor.

ADT is a Boca Raton, Fla.-based provider of security, automation and smart home solutions services.

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