Prime Security to launch $2.77 billion in term loans on Wednesday

By Sara Rosenberg

New York, June 7 – Prime Security Services Borrower LLC (ADT) is scheduled to hold a lender call on Wednesday to launch a $2,772,000,000 in term loans, according to a market source.

Barclays, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are the bookrunners on the debt, and Apollo is a co-manager.

The loans are split between a $1,092,000,000 first-lien term loan due 2021, a $1,555,000,000 first-lien term loan due 2022 and a $125 million incremental first-lien term loan due 2022, the source said.

Proceeds will be used to reprice the company’s existing first-lien term loans and to repay $125 million of existing second-lien term loan borrowings due 2022.

Apollo Funds is the sponsor.

Prime Security is a security services company.

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