Willkie Farr & Gallagher LLP
07/22/2024 | News release | Distributed by Public on 07/22/2024 15:09
Willkie Advises Resideo on $600 Million Notes Offering
Willkie Advises Resideo on $600 Million Notes Offering
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July 22, 2024
On July 17, 2024, Resideo Funding Inc., a wholly-owned subsidiary of Resideo Technologies, Inc. (NYSE:REZI), completed its Rule 144A/Regulation S offering of $600 million aggregate principal amount of 6.500% Senior Notes due 2032.
The net proceeds from the issuance and sale of the Notes were used to repay $596,300,000 principal amount of outstanding indebtedness under the Company's senior secured Term B loans maturing on February 21, 2028, together with all accrued and unpaid interest on such repaid principal.
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Through its ADI Global Distribution business, Resideo is also a leading wholesale distributor of professionally installed electronic security and life safety products for commercial and residential markets and serves a variety of adjacent product categories including audio visual, data communications, and smart home solutions.
Willkie previously advised Resideo on numerous transactions, including its $1.4 billion acquisition of Snap One completed in June 2024, its sale of Genesis Cable in 2023 and its acquisition of First Alert in 2022.
The Willkie team was led by partners Sean Ewen and Julian Golay, with assistance from partners Russell Leaf and Cristopher Greer, and included associates Candace Mashel and Andrew O'Connor.
The net proceeds from the issuance and sale of the Notes were used to repay $596,300,000 principal amount of outstanding indebtedness under the Company's senior secured Term B loans maturing on February 21, 2028, together with all accrued and unpaid interest on such repaid principal.
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Through its ADI Global Distribution business, Resideo is also a leading wholesale distributor of professionally installed electronic security and life safety products for commercial and residential markets and serves a variety of adjacent product categories including audio visual, data communications, and smart home solutions.
Willkie previously advised Resideo on numerous transactions, including its $1.4 billion acquisition of Snap One completed in June 2024, its sale of Genesis Cable in 2023 and its acquisition of First Alert in 2022.
The Willkie team was led by partners Sean Ewen and Julian Golay, with assistance from partners Russell Leaf and Cristopher Greer, and included associates Candace Mashel and Andrew O'Connor.