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Phone: 212.701.3614
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jcohen@cahill.com

Firm News

Cahill Represents Debt Financing Sources for ADT

Date: 04/04/19

Cahill represented the initial purchasers in connection with a Rule 144A offering of $750,000,000 aggregate principal amount of 5.250% first-priority senior secured notes due 2024 and $750,000,000 aggregate principal amount of 5.750% first-priority senior secured notes due 2026 by Prime Security Services Borrower, LLC and Prime Finance Inc., each a wholly-owned subsidiary of ADT Inc. Cahill also represented the dealer manager in connection with a tender offer for cash up to $1,000,000,000 outstanding principal amount of 9.250% second-priority senior secured notes due 2023 of Prime Security Services Borrower, LLC and Prime Finance Inc. Cahill also represented the lead arrangers and administrative agent in connection with an amendment to ADT’s senior secured credit facility in order to facilitate the notes offering. ADT is a leading provider of security and automation solutions in the United States and Canada, protecting homes and businesses, people on-the-go and digital networks. Proceeds of the notes offering were used to (a) repurchase or redeem $1,000,000,000 aggregate principal amount of outstanding 9.250% second-priority senior secured notes and (b) repay $500,000,000 of outstanding terms loans.