Vivint whispers $300 million tap of 7 7/8% secured notes due 2022 at 107.5-108; pricing Wednesday

By Paul A. Harris

Portland, Ore., Jan. 18 – APX Group Holdings, Inc., the holding company of Vivint, plans to price a $300 million add-on to its 7 7/8% senior secured notes due Dec. 1, 2022 in a Wednesday drive-by, according to market sources.

Initial guidance has the deal pricing at 107.5 to 108, a trader said.

BofA Merrill Lynch is the lead left bookrunner for the Rule 144A and Regulation S deal.

The notes are non-callable before Dec. 1, 2018.

The Provo, Utah-based home security services provider plans to use the proceeds to redeem up to $300 million of its 6 3/8% senior secured notes due 2019, with any remaining proceeds to be used for general corporate purposes.

The original $500 million issue priced at par on May 19, 2016. A previous $100 million tack-on priced at 104 to yield 6.78% on Aug. 12, 2016.

© 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.