Vivint readies launch of $560 million term loan B for Thursday

By Sara Rosenberg

New York, July 25 – Vivint (APX Group Inc.) is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch a $560 million 5.5-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch is the left lead arranger on the deal.

Proceeds will be used to redeem 6.375% senior secured notes due 2019, to repay revolving credit facility borrowings, for general corporate purposes, including repayment of other debt, and to pay fees and expenses.

Vivint is a Provo, Utah-based smart home services provider.

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