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 $400 million aggregate principal amount of 7.625% Senior Notes due 2023. 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 the remaining net proceeds are expected to be used for general corporate purposes, including the repayment of certain amounts outstanding under Vivint Smart Home’s existing senior secured revolving credit facility.
The Firm also represented Vivint Smart Home in connection with the amendment and restatement of its existing senior secured revolving credit facility that, among other things, increased the aggregate commitments previously available to Vivint Smart Home and extended the maturity date.
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, Jonathan Pacheco and Della Fok (Capital Markets); Alden Millard, Eli Isak, Edward Bersuder and Brian Jones (Credit); Jonathan Cantor and Deborah Plum (Tax); Linda Nyberg (Intellectual Property); Brian Robbins and Jeanne Annarumma (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); and Amanda Weiss (Public Company Advisory Practice).