August 20, 2026
Willkie advised Resideo Technologies, Inc. (NYSE: REZI) in connection with the spin-off of its ADI Global Distribution business and the related financing transactions, including $400 million in aggregate principal amount of senior notes, $1.1 billion in senior secured credit facilities, and an exchange of $150 million in liquidation preference of preferred equity.
The transaction involved the separation of Resideo's ADI Global Distribution segment into an independent publicly traded company, ADI Global Distribution Inc., and the listing of ADI’s common stock on the New York Stock Exchange under the trading symbol "ADIG". In connection with the spin-off, the financing package included a bond offering of the senior notes and the establishment of new senior secured term loan and revolving credit facilities for ADIG to fund the transaction and support ADIG’s balance sheet and ongoing operations. The spin-off closed on August 3, 2026.
Willkie's role encompassed advising on all aspects of the transactions, including the corporate structuring of the spin-off and preferred equity exchange, registration with the SEC, the capital markets aspects of the bond offering, and the negotiation and documentation of the loan facilities.
The Willkie Corporate team was led by partners Russell Leaf, Jared Fertman, Tej Prakash, and Jeffrey Daniel.
The Willkie Capital Markets team was led by partner John Ablan and senior associate Katie Lovejoy. The Willkie Finance team was led by partners Viktor Okasmaa and Charlotta Chung and counsel Bernard Funk and Jessica Tjang.
The Willkie Employee Benefits team was led by partner Isabel Duman. The Willkie Tax team was led by partner Christopher Peters. The Willkie Intellectual Property team was led by partner Spencer Simon.
The transaction involved the separation of Resideo's ADI Global Distribution segment into an independent publicly traded company, ADI Global Distribution Inc., and the listing of ADI’s common stock on the New York Stock Exchange under the trading symbol "ADIG". In connection with the spin-off, the financing package included a bond offering of the senior notes and the establishment of new senior secured term loan and revolving credit facilities for ADIG to fund the transaction and support ADIG’s balance sheet and ongoing operations. The spin-off closed on August 3, 2026.
Willkie's role encompassed advising on all aspects of the transactions, including the corporate structuring of the spin-off and preferred equity exchange, registration with the SEC, the capital markets aspects of the bond offering, and the negotiation and documentation of the loan facilities.
The Willkie Corporate team was led by partners Russell Leaf, Jared Fertman, Tej Prakash, and Jeffrey Daniel.
The Willkie Capital Markets team was led by partner John Ablan and senior associate Katie Lovejoy. The Willkie Finance team was led by partners Viktor Okasmaa and Charlotta Chung and counsel Bernard Funk and Jessica Tjang.
The Willkie Employee Benefits team was led by partner Isabel Duman. The Willkie Tax team was led by partner Christopher Peters. The Willkie Intellectual Property team was led by partner Spencer Simon.
