Vivint Smart Home Completes Additional High Yield Notes Offering
08.18.16
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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 $100 million aggregate principal amount of 7.875% Senior Secured Notes due 2022. The notes were issued as additional notes under the indenture dated as of May 26, 2016. Prior to the issuance of the additional notes, there were $500 million aggregate principal amount of 7.875% Senior Secured Notes due 2022 already outstanding under the indenture. Vivint Smart Home expects to use the net proceeds from the offering 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 and Eva Kang (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).