ADT to launch $3.03-$3.28 billion term loan B on Thursday

By Sara Rosenberg

New York, Sept. 3 – ADT Inc. (Prime Security Services Borrower LLC) will hold a lender call at 11 a.m. ET on Thursday to launch a $3.025 billion to $3.275 billion senior secured term loan B, according to a market source.

Barclays is the lead bank on the deal.

Proceeds will be used to help refinance an existing first-lien senior secured term loan due 2022 and first-lien senior secured notes due 2020, and to pay associated fees, expenses and early call premiums.

Other funds for the transaction will come from $500 million to $750 million of first-lien senior secured notes.

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

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