APi Group launches $500 million senior notes offering

APi Group Corporation (NYSE: APG) announced the launch of a $500 million senior unsecured notes offering, according to a company statement. The notes will be issued by APi Group DE, Inc., a wholly owned subsidiary, and will be guaranteed by the parent company and certain subsidiaries.

The company also intends to amend its existing credit agreement to extend the maturity of its Term Loan B facility to 2033 and increase its revolving credit facility to $1.0 billion with a 2031 maturity date.

APi plans to use proceeds from these financings to fund its recently announced acquisitions of Onyx-Fire Protection Services Inc. and Wtech Fire Group, as well as for general corporate purposes.

The notes are being offered in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons under Regulation S. The company stated that completion of the offering and credit agreement amendment is subject to market and other customary conditions.

APi Group provides fire and life safety, security, elevator and escalator, and specialty services through over 500 locations worldwide.

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