Vivint to start roadshow Monday for $1.3 billion two-part notes offer

By Paul A. Harris

Portland, Ore., Oct. 26 - 313 Group, Inc. plans to start a roadshow on Monday for a $1,305,000,000 two-part offering of notes, according to a syndicate source.

An investor call is scheduled for 12:15 p.m. ET on Monday.

The deal, to fund the acquisition of Vivint, Inc. by the Blackstone Group, will include a $925 million tranche of seven-year senior secured notes and a $380 million tranche of eight-year senior unsecured notes.

Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Macquarie Capital and Goldman Sachs & Co. are the joint bookrunners for the Rule 144A with registration rights offering.

Both tranches of notes come with three years of call protection. The seven-year secured notes feature a special call provision that allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.

Credit ratings remain to be determined.

313 Group will be merged with and into APX Group, Inc., the parent of Vivint, a Provo, Utah-based home securities services provider.

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