Resideo repays $900 million term loan debt after ADI spin-off completion
REZI•Debt repayment after ADI spin-off
Resideo completed the ADI Global Distribution spin-off, repaying $900 million of principal under its Term Loan B facility.
Additional repayment and preferred stock adjustment
The company targets an additional Term Loan B repayment of about $200 million following the post-closing cash adjustment, expected by fiscal Q3-end.
Resideo also said its Series A Cumulative Convertible Participating Preferred Stock was cut by 150,000 shares to 350,000 outstanding, with the conversion price adjusted proportionally.
