BOCA RATON, Fla., Aug. 06, 2020 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT), a leading provider of security, automation, and smart home solutions serving consumer and business customers in the United States, announced that Prime Security Services Borrower, LLC and Prime Finance Inc., its indirect wholly owned subsidiaries, are proposing to issue and sell $750 million aggregate principal amount of first-priority senior secured notes due 2027  in an offering that will be exempt from the registration requirements of the Securities Act of 1933, as amended.

Upon the satisfactory consummation of the Offering, The ADT Security Corporation, an indirect wholly owned subsidiary of the Company, intends to deliver a Notice of Redemption to holders of its 6.250% Senior Notes due 2021 (the “2021 Notes”), which will provide for the redemption by ADTSC of $750 million aggregate principal amount of the outstanding 2021 Notes.

The Issuers expect to use the proceeds from the Offering, along with cash on hand, to (i) redeem $750 million outstanding aggregate principal amount of the 2021 Notes in the Redemption and (ii) pay related fees and expenses in connection with the transactions.

About ADT Inc.

ADT is a leading provider of security, automation, and smart home solutions serving consumer and business customers through more than 300 locations, 9 owned and operated monitoring centers, and the largest network of security professionals in the United States. The company offers many ways to help protect customers by delivering lifestyle-driven solutions via professionally installed, do-it-yourself, mobile, and digital-based offerings for residential, small business, and larger commercial customers. For more information, please visit www.adt.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.