Resideo Technologies, Inc. (REZI) announced on Tuesday that Resideo Funding Inc., a wholly-owned direct subsidiary, has initiated a private offering of $500 million in senior notes due in 2032.
These notes will be fully and unconditionally guaranteed on a senior unsecured basis by Resideo and each of its subsidiaries that currently guarantee the company's existing senior credit facilities.
Resideo plans to utilize the net proceeds from the sale of the notes to repay a portion of the debt under the company's senior secured Term B loans, which mature on February 21, 2028.
