Vivint Smart Home Completes High Yield Notes Offering
06.02.16
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Simpson Thacher represented APX Group Holdings, Inc. and certain of its subsidiaries (collectively, “Vivint Smart Home”), in connection with a Rule 144/Regulation S offering of $500 million aggregate principal amount of 7.875% Senior Secured Notes due 2022. Vivint Smart Home used a portion of the net proceeds from the offering to repurchase approximately $235 million aggregate principal amount of its outstanding 6.375% Senior Secured Notes due 2019 and 8.875% Senior Secured Notes due 2022 in privately negotiated transactions. The remaining net proceeds are expected to be used for general corporate purposes.
Vivint Smart Home, a Blackstone portfolio company, is a leading provider of smart home technology. Vivint’s fully integrated smart home platform offers subscribers a comprehensive suite of products and services to remotely control, monitor and manage their homes using any smart device.
The Simpson Thacher team included William Golden, John O’Connell, Eva Kang and Summer Associate Jessica Jeong (Capital Markets); Eli Isak (Credit); Jonathan Cantor and Sophie Staples (Tax); Marcela Robledo (Intellectual Property); Jeanne Annarumma and Jennifer Pepin (Executive Compensation and Employee Benefits); Noreen Lavan (Environmental); and Janet Nadile and Jonathan Pall (Collateral).