Vivint to redeem up to $150 million 6 3/8% notes due 2019 via new notes

By Marisa Wong

Morgantown, W.Va., July 24 – APX Group Holdings, Inc., the holding company of Vivint, Inc., said wholly owned subsidiary APX Group, Inc. plans to redeem up to $150 million principal amount of its 6 3/8% senior secured notes due 2019.

The issuer plans to offer $400 million of senior notes due 2024 in a private placement, according to a company announcement.

Proceeds from the Rule 144A and Regulation S offering also will be used for general corporate purposes, including repayment of outstanding borrowings under the company’s revolving credit facility.

The redemption of the 2019 notes is contingent on the new issue.

The company is a Provo, Utah-based home security services provider.

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