Adt Issues Notice of Partial Redemption of its 9.250% Second-Priority Senior Secured Notes Due 2023
BOCA RATON, Fla., January 2, 2019 – ADT Inc. (NYSE: ADT), a leading provider of monitored security and interactive home and business automation solutions in the United States and Canada, announced its intention today to partially redeem $300 million of the principal amount of its 9.250% Second-Priority Senior Secured Notes due 2023 (the "Prime Notes") on February 1, 2019 (the "Redemption Date"), following the delivery of the Notice of Partial Redemption by the trustees for the Prime Notes. The Prime Notes will be partially redeemed at a redemption price of 106.318% of the principal amount of the Prime Notes to be redeemed plus accrued and unpaid interest on the Prime Notes so redeemed as of the Redemption Date. The final redemption price will be recalculated prior to the Redemption Date in accordance with the provisions of the Indenture. Following the partial redemption, the aggregate outstanding principal amount of the Prime Notes will be $2,246 million.
ADT has instructed Wells Fargo Bank, National Association, as trustee for the Prime Notes, to distribute a Notice of Partial Redemption to all registered holders of the Prime Notes on January 2, 2019. The trustee will determine which portions of the Prime Notes will be redeemed.
The partial redemption of the Prime Notes reflects the strength of ADT's balance sheet and affords ADT the opportunity to reduce its debt obligations while investing in strategic initiatives for sustained long-term profitable growth.
This announcement is neither an offer to sell nor a solicitation to buy any security, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which an offer, solicitation, or sale would be unlawful.
ADT is a leading provider of monitored security and interactive home and business automation solutions in the United States and Canada. Making security more accessible than ever before, and backed by 24/7 customer support, ADT is committed to providing superior customer service with a focus on speed and quality of responsiveness, helping customers feel safer and empowered. ADT is headquartered in Boca Raton, Florida and employs approximately 19,000 people throughout North America.
ADT has made statements in this filing and other reports, filings, and other public written and verbal announcements that are forward-looking and therefore subject to risks and uncertainties. All statements, other than statements of historical fact, included in this document are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. These forward-looking statements relate to anticipated financial performance, management's plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions and other matters. Any forward-looking statement made in this filing speaks only as of the date on which it is made. ADT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Forward-looking statements can be identified by various words such as "expects," "intends," "will," "anticipates," "believes," "confident," "continue," "propose," "seeks," "could," "may," "should," "estimates," "forecasts," "might," "goals," "objectives," "targets," "planned," "projects," and similar expressions. These forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. ADT cautions that these statements are subject to risks and uncertainties, many of which are outside of ADT's control and could cause future events or results to be materially different from those stated or implied in this document, or to occur at all, including among others, risk factors that are described in the ADT Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein.
Jason Smith – ADT
Adam Feigen - ADT