New Issue: Monitronics slightly upsized $160 million seven-year notes yield 11 7/8%

By Paul Deckelman

New York, Aug. 18 - Monitronics International Inc. priced a slightly upsized $160 million offering of 11¾% senior subordinated notes maturing on Sept. 1, 2010 on Monday at 99.4104 to yield 11 7/8%, high yield syndicate sources said Monday.

The Rule 144A deal was originally expected to be for $155 million - although that amount had been reduced from $200 million originally planned.

The notes priced at the wide end of revised pre-deal price talk of the 11¾% area and well outside of original price talk of 10¾% to 11%.

Banc of America Securities was the sole bookrunning manager, with Fleet Securities as a co-manager.

Monitronics, a Dallas-based provider of monitored security alarm systems, plans to use proceeds to refinance existing debt.

Issuer: Monitronics International Inc.

Amount:	$160 million (upsized from $155 million)
Maturity:	Sept. 1, 2010
Security description:	Senior subordinated notes
Bookrunner:	Banc of America Securities
Co-managers:	Fleet Securities, Banc One, ABN Amro, BMO Nesbitt, NatCity, Wells Fargo, Piper Jaffray
Coupon:	11¾%
Price:	99.4104
Yield:	11 7/8%
Spread:	785 bps over 5¾% Treasury due 2010
Call features:	Non-callable for four years, then at 108, 102.938, par
Equity clawback:	3-year for 25% of issue at 111.75
Settlement date:	Aug. 25, 2003 (T + 5)
Ratings:	Moody's: B3, stable outlook
	S&P: B-, negative outlook

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