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 $300 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 $600 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 to redeem a portion of its outstanding 6.375% Senior Secured Notes due 2019 and 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, Natalie Karam and Eva Kang (Capital Markets); Alden Millard and Eli Isak (Credit); Jonathan Cantor and Sophie Staples (Tax); Linda Nyberg (Intellectual Property); Jeanne Annarumma and Jennifer Pepin (Executive Compensation and Employee Benefits); Noreen Lavan (Environmental); and Janet Nadile and Jonathan Pall (Collateral).