Vivint to repay revolver borrowings with senior notes proceeds

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 repay outstanding borrowings under its revolving credit facility using proceeds from an offering of senior notes.

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 will also be used to redeem up to $150 million principal amount of its 6 3/8% senior secured notes due 2019.

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

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