Exhibit 99.2
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ADT Inc. Announces Tender Offer for Up to $2,246 Million Outstanding
9.250% Second-Priority Senior Secured Notes due 2023 of Prime Security Services Borrower,
LLC and Prime Finance Inc.
BOCA RATON, FL, March 18, 2019 – ADT Inc. (NYSE: ADT) (the “Company” or “ADT”), a leading provider of security and automation solutions in the United States and Canada, today announced that Prime Security Services Borrower, LLC (the “Issuer”) and Prime Finance Inc. (the“Co-Issuer” and, together with Issuer, the “Offerors”), each a wholly-owned subsidiary of ADT, have commenced a tender offer to purchase (the “Tender Offer”) up to $2,246 million aggregate principal amount of the Offerors’ outstanding 9.250% Second-Priority Senior Secured Notes due 2023 (the “Notes”), subject to any required proration.
The Tender Offer is being conducted in connection with the sale by the Offerors (the “Offerings”) of up to (i) $750.0 million aggregate principal amount of First-Priority Senior Secured Notes due 2024 (the “2024 Notes”), (ii) $750.0 million aggregate principal amount of First-Priority Senior Secured Notes due 2026 (the “2026 Notes” and, together with the 2024 Notes, the “First-Priority Notes”) and (iii) $1,250 million aggregate principal amount of Senior Unsecured Notes due 2027 (the “Senior Unsecured Notes and, together with the First-Priority Notes, the “New Notes”). The New Notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States, only tonon-U.S. investors pursuant to Regulation S. The New Notes will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.
The Tender Offer is conditioned upon, among other things, the consummation of the Offerings. However, the completion of the Tender Offer is not a condition to the consummation of the Offerings.
The Tender Offer
The consideration for Notes validly tendered prior to 5:00 p.m., New York City time, on March 29, 2019 (the “Early Tender Time”), and not validly withdrawn prior to the Early Tender Time, will be $1,053.04 for each $1,000 principal amount of Notes, which includes an early tender payment of $30.00 per $1,000 principal amount of Notes so tendered. The consideration for Notes validly tendered after the Early Tender Time but prior to 12:00 midnight, New York City time, at the end of April 12, 2019 (the “Expiration Time”), will be $1,023.04 for each $1,000 principal amount of Notes.