Monitronics plans to price $150 million tap of 9 1/8% senior notes due 2020 Thursday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., July 11 - Monitronics Escrow Corp., which will be assumed by Monitronics International, Inc., is planning to price on Thursday a $150 million add-on to its 9 1/8% senior notes due April 1, 2020 (existing ratings Caa1/CCC+), according to a market source.

BofA Merrill Lynch is the left bookrunner.

Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are the joint bookrunners.

The Rule 144A with registration rights notes will be callable on April 1, 2016 at 104.563 and feature a 101% poison put.

Proceeds will be used to partially fund the acquisition of Securities Networks.

The Dallas-based alarm monitoring company was scheduled to host an investor call at 11 a.m. ET on Thursday.

The original $410 million issue priced at par in March 2012, and upon registration, the add-on notes will be fungible with the existing notes.

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