- Resideo Technologies Inc REZI subsidiary Resideo Funding Inc. commenced a private offering of $300 million aggregate principal amount of Senior Notes due 2029.
- The notes will be fully and unconditionally guaranteed on an unsecured basis initially by Resideo Technologies and each of its subsidiaries that guarantee its existing senior credit facilities.
- Resideo intends to use the proceeds to fund the redemption of Resideo Funding's outstanding 6.125% Senior Notes due 2026. The aggregate principal amount of 2026 Notes currently outstanding is $260 million. Any remaining proceeds may be used for general corporate purposes.
- Price Action: REZI shares are trading lower by 4.58% at $30.43 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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