Exchange Offer Initiated By ADT Corp (NYSE:ADT)

by Jack Bibey | Tuesday, Apr 8, 2014 | 959 views

Boston, MA, 04/08/2014 (usastockreports) – ADT Corp (NYSE:ADT), a leading corporation for interactive homes, business automation and electronic security, made an announcement on April 4, 2014, about the exchange offer that the firm is going to provide. This offer is to exchange unregistered outstanding notes issued in the month of October, 2013 with registered new notes. The exchange will be made through a private placement which will follow Regulation S and Rule 144 A of the Securities act amended in 1993.

Details of the offer

As per the exchange offer proposed by ADT Corp (NYSE:ADT), the firm is ready to exchange an amount up to $1 billion total principal of the firm’s outstanding $1 billion 6.250% of Notes up to 2021 for almost the same total amount of the firm’s new $1 billion 6.250% of Notes up to 2021.

The exclusive purpose of ADT to propose this ‘Exchange Offer’ is to complete its obligations and duties under the rights agreements with the holders of unregistered Notes of the firm. ADT won’t be receiving any amount of the proceeds that would be gained after issuing the ‘Exchange Notes’ to the holders.

The proposed ‘Exchange Offer’ will be open for the holders up to 5 pm ET, May 5, 2014, unless any further changes are made by ADT Corp (NYSE:ADT). The date of settlement of this offer will follow the expiring date i.e. May 5, 2014. This offer will only be pursuant to the firm’s prospectus as registered on April 4, 2014. This prospectus has been filed and registered by the U.S. Exchange and Security Commission. No, other person is authorized to provide info about the offer other than filed in this prospectus.

The exchange agent for this exchange offer is the Wells Fargo Bank, National Association. The prospectus of the registration of this offer will be available with the agent and can be obtained from the same.

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