Vivint pricing $200 million tap of its 8¾% notes due 2020 on Tuesday

By Paul A. Harris

Portland, Ore., Dec. 10 - APX Group Inc., the parent of Vivint, Inc., plans to price a $200 million add-on to its 8¾% senior notes due Dec. 1, 2020 (existing ratings Caa1/CCC+) on Tuesday, according to market sources.

BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Macquarie, Goldman Sachs & Co. and HSBC are the joint bookrunners.

The notes become callable on Dec. 1, 2015 at 106.563.

The Provo, Utah-based home security services provider plans to use the proceeds for general corporate purposes.

The original $380 million issue priced at par in November 2012.

A previous $200 million add-on priced at 101.75 to yield 8.347% on May 28, 2013.

Upon registration the new add-on notes will be fungible with the outstanding notes.

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