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Stock impact report

ServiceMaster Announces Pricing of Financing Transactions in Conjunction with the Spin-off of Frontdoor Business

SERVICEMASTER GLOBAL HOLDINGS (SERV) 
Last servicemaster global holdings earnings: 2/27 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investors.servicemaster.com
Company Research Source: Business Wire
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential residential and commercial services, today announced that its wholly owned subsidiary, frontdoor, inc. (“Frontdoor”), the new corporate name for the parent company of ServiceMaster’s American Home Shield business, priced $1 billion of financing transactions in advance of the planned spin-off of Frontdoor. Such financing transactions consist of an offering of $350 million aggregate principal amount of 6.75% Senior Notes due 2026 (the “Notes”) and entry into a $650 million term loan facility due 2025. The Notes are expected to be sold at a price equal to 100% of their face amount, plus accrued and unpaid interest thereon. The term loan facility is expected to be sold at a price equal to 99.75% of its face value, with an interest rate of LIBOR plus 2.50% per annum or an alternate base rate plus 1.50% per a Show less Read more
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