Vivint/APX to redeem three series of notes with loan, note proceeds

By Rebecca Melvin

Concord, N.H., June 28 – APX Group, Inc., a wholly owned subsidiary of Vivint Smart Home Inc., plans to repay all $677 million outstanding of its 7 7/8% senior secured notes due 2022, $400 million outstanding of its 7 5/8% senior notes due 2023 and $225 million of its 8½% senior secured notes due 2024, according to a company news release.

The company will use the proceeds of a planned $1.6 billion first-lien credit facility and $600 million of senior secured notes due 2027 to fund the repurchase of the three series of notes. The company also plans to terminate all of its commitments under its existing credit facilities.

The 2022 notes and 2024 notes are expected to be repurchased on July 24, 2021, and the 2023 notes are expected to be repurchased on Sept. 1, 2021.

The home automation services provider is based in Provo, Utah.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.