Resideo Technologies, Inc. announced the company has launched a process to refinance its senior secured credit facilities. The strategic refinancing is intended to improve financial flexibility, including by extending the company's debt maturities. Resideo has launched a process to refinance its outstanding senior secured term loan A and term loan B with the net proceeds of a new 7-year term loan B. The company also expects to enter into a new 5-year, $500 million revolving credit facility. In addition, the company intends to redeem up to $140 million of its outstanding senior unsecured notes pursuant to the terms of the underlying indenture. The objectives of the refinancing are to increase the company's financial flexibility and extend its weighted average debt maturity. Resideo's net debt position at December 31, 2020 was approximately $645 million.