Financing ·
Resideo secures up to $2.827B in senior secured financing for ADI Global Distribution spin-off
REZIResideo Technologies, Inc.
Resideo Technologies, Inc. entered into a Second Amendment and Restatement Agreement providing up to approximately $2,827 million in senior secured financing, including a new $500 million revolving credit facility, to facilitate the spin-off of its ADI Global Distribution segment. The company also approved compensation terms for incoming CEO Thomas Surran, which include an annual base salary of $900,000 and a $1,583,000 long-term incentive award.