Vivint expected to bring $900 million notes during June 28 week

By Paul A. Harris

Portland, Ore., June 25 – Vivint Smart Home Inc. and its indirect subsidiary APX Group Inc. are expected to launch a $900 million offering of senior notes into the market during the June 28 week, according to a high-yield bond investor.

The Provo, Utah-based smart home services provider is shopping a $1.25 billion term loan via BofA, Credit Suisse and others. The loan launched Thursday. Commitments are due July 1.

Proceeds plus $140 million of balance sheet cash will be used to refinance an existing term loan B, as well as the company’s 7 7/8% senior secured notes due 2022, its 8˝% senior secured notes due 2024 and its 7 5/8% senior notes due 2023.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.