RESIDEO TECHNOLOGIES, INC.

$3.94bn committed across 2 active facilities, next covenant test Sep 30, 2026. REZI

Wholesale-Hardware

Recent changes

  1. Jul 1, 2026RESIDEO TECHNOLOGIES, INC. signs $1.1bn CREDIT AGREEMENTSEC ↗

Net leverage: when the limit steps, and which way the company's ratio has been moving.

20264.62x2.93x1.24xToday
Tested quarterlyEstimated above the limit*ratio 4.23x, estimated, vs 3.50x limit in force at Jul 4, 20263.50x
  • From for the first two CTLR Testing Dates ending after the date on which the ADI Spin-Off Transaction is consummated · 4.75x
  • From for the third and fourth CTLR Testing Dates ending after the date on which the ADI Spin-Off Transaction is consummated · 4.50x
  • From for the fifth and sixth CTLR Testing Dates ending after the date on which the ADI Spin-Off Transaction is consummated · 4.25x
  • From thereafter · 4.00x
Holdings will not permit the Consolidated Total Leverage Ratio for any period of four consecutive fiscal quarters ending on the last day of any fiscal quarter of Holdings (each such date, a “CTLR Testing Date”) to exceed (i) for any CTLR Testing Date prior to the fiscal quarter in which the ADI Spin-Off Transaction is consummated, 3.50 to 1.00
Read the filing on sec.gov ↗
Tested quarterly10.9%ratio 4.23x, estimated, vs 4.75x limit in force at Jul 4, 20264.75x
  • From Third and fourth fiscal quarters ending after the Closing Date · 4.50x
  • From Fifth and sixth fiscal quarters ending after the Closing Date · 4.25x
  • From Seventh and eighth fiscal quarters ending after the Closing Date · 4.00x
  • From Ninth fiscal quarter ending after the Closing Date and each fiscal quarter thereafter · 3.50x
Holdings will not permit the Consolidated Total Leverage Ratio for any period of four consecutive fiscal quarters of Holdings ending on the last day of any fiscal quarter of Holdings, beginning with the first fiscal quarter ending after the Closing Date, (each such date, a “CTLR Testing Date”) to exceed the ratio set forth across from such fiscal quarter in the table below:
Read the filing on sec.gov ↗
Tested quarterly62.4%ratio 4.06x, estimated, vs 2.50x limit in force at Jul 4, 20262.50x
Holdings will not permit the Consolidated Interest Coverage Ratio as of the last day of any fiscal quarter of Holdings, beginning with the last day of the first fiscal quarter ending after the Closing Date, in each case for any period of four consecutive fiscal quarters of Holdings ending on the last day of such fiscal quarter, to be less than 2.50 to 1.00.
Read the filing on sec.gov ↗
Tested quarterly62.4%ratio 4.06x, estimated, vs 2.50x limit in force at Jul 4, 20262.50x
Holdings will not permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of Holdings ending on or after the Second Amendment and Restatement Effective Date, in each case for any period of four consecutive fiscal quarters of Holdings ending on the last day of such fiscal quarter, to be less than 2.50 to 1.00.
Read the filing on sec.gov ↗

* Estimates use reported financials; credit agreements usually add back items that XBRL does not capture.

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CREDIT AGREEMENT

Signed Jul 1, 2026

Committed
$1.1bn
Matures
n/a
Agent
JPMorgan Chase Bank, N.A.
TrancheSizeMaturesMargin
Revolving Credit Facility$500mn/a150–200 bps
Initial Term Loans$600mn/a275 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level I≥ 2.50 to 1.00200 bps35 bps
Level II< 2.50 to 1.00 and ≥ 1.50 to 1.00175 bps30 bps
Level III< 1.50 to 1.00150 bps25 bps

Priced over Term SOFR, floor 0 bps (Term Loan B).

LevelConditionMarginUnused fee
Level flatall times275 bpsn/a

Lenders: JPMORGAN CHASE BANK, N.A., BOFA SECURITIES, INC., WELLS FARGO BANK, NATIONAL ASSOCIATION, BNP PARIBAS, PNC CAPITAL MARKETS LLC, TRUIST SECURITIES, INC., U.S. BANK NATIONAL ASSOCIATION, ROYAL BANK OF CANADA, CITIZENS BANK, N.A., CITIBANK, N.A.

Second Amendment and Restatement Agreementunconfirmed

Signed Jun 4, 2026

Committed
$2.84bn
Matures
n/a
Agent
JPMorgan Chase Bank, N.A.
TrancheSizeMaturesMargin
Revolving credit facility$500mn/a150–200 bps
Initial Term Loans$517.8mn/a200–225 bps
Fourth Amendment Term Loans$598.5mn/a200–225 bps
Sixth Amendment Term Loans$1.23bnn/a200–225 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level I≥ 2.50 to 1.00200 bps35 bps
Level II< 2.50 to 1.00 and ≥ 1.50 to 1.00175 bps30 bps
Level III< 1.50 to 1.00150 bps25 bps
Level III< 2.00 to 1.00 and ≥ 1.50 to 1.00n/a28 bps

Priced over Term SOFR, floor 0 bps (Term Loan A).

LevelConditionMarginUnused fee
Level pre-ADI Spin-Offprior to consummation of the ADI Spin-Off Transaction200 bpsn/a
Level post-ADI Spin-Offfrom and including the date of the consummation of the ADI Spin-Off Transaction225 bpsn/a

No amendments on file yet.

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