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APX/Vivint may redeem up to $140 million 6 3/8%, 8 7/8% notes with proceeds of new notes
By Wendy Van Sickle
Columbus, Ohio, May 17 – APX Group, Inc., the parent of Vivint, Inc., said it may spend up to $140 million to repurchase its 6 3/8% senior secured notes due 2019 and/or its 8 7/8% senior secured notes due 2022, using proceeds of a private placement offering of $350 million of senior secured notes due 2022.
The repurchases may be effected through privately negotiated or open market transactions, by tender offer or otherwise, the company said in a press release.
The issuer plans to use the remaining net proceeds for general corporate purposes, which may include temporary repayment of borrowings under its revolving credit facility.
Vivint is a Provo, Utah-based home security services provider.
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