ADI to Incur ~$1.0 Billion in New Debt for Spin-Off Dividend

In connection with the spin-off, ADI expects to incur approximately $1.0 billion of new funded debt split between secured and unsecured debt. The proceeds will be used for a one-time cash dividend to Resideo of approximately $900 million, transaction fees, and general corporate purposes.

“In connection with the Spin-Off, SpinCo expects to incur ~$1.0 billion of new funded debt split between secured and unsecured debt”

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