Simpson Thacher represented the initial purchasers, led by Morgan Stanley & Co. LLC, in connection with Resideo Funding Inc.’s (“Resideo Funding”) offering of $300 million aggregate principal amount of 4% Senior Notes due 2029 (the “Notes”). The Notes were offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A, and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act of 1933, as amended. The net proceeds of the offering will be used to redeem certain of the Company’s outstanding senior notes and for general corporate purposes.
Resideo Funding’s parent company, Resideo Technologies, Inc. (“Resideo”) (NYSE: REZI), is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide. Resideo’s ADI Global Distribution business is also a wholesale distributor of low-voltage security products with a global footprint serving commercial and residential end markets. Resideo’s primary focus is on the professional channel.
The Simpson Thacher team for this transaction included Daniel Webb, David Azarkh, Karen Reyes, Paul Clatterbuck and Grace Bowers (Capital Markets); Jonathan Goldstein and Michael E. Mann (Tax); Tristan Brown and Pasco Struhs (ECEB); Lori Lesser, Genevieve Dorment and Alysha Sekhon (Intellectual Property); Michael Isby (Environmental); and Jennie Getsin (Blue Sky and FINRA).