| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for APX Group, Inc. > News item |
S&P rates APX notes CCC
S&P said it assigned CCC issue-level and 6 recovery ratings to APX Group Inc.'s planned $900 million of eight-year senior unsecured notes. The 6 recovery rating indicates an expectation for negligible (0%-10%; rounded estimate: 0%) recovery in default.
The company plans to use the proceeds, along with the recently issued $1.6 billion senior secured credit facility to repay its $940.5 million (outstanding) first-lien term loan due 2025, $677 million of 7 7/8% senior secured notes due 2022, $400 million of 7 5/8% senior notes due 2023 and $225 million of 8½% senior secured notes due 2024, with the balance financing related fees and expenses.
The $600 million of 6¾% senior secured notes due 2027 remain outstanding.
© 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.