Vivint Smart Home Completes High Yield Notes Offering
05.14.19
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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 $225 million aggregate principal amount of 8.5% Senior Secured Notes due 2024. Vivint Smart Home intends to use the net proceeds from the offering to redeem $225 million aggregate principal amount of its 8.75% Senior Notes due 2020 and to pay the related accrued interest, and to pay all fees and expenses related thereto and to use any remaining proceeds for general corporate purposes.
Vivint Smart Home, a Blackstone portfolio company, is a leading provider of smart home technology. Using Vivint’s solution, subscribers are able to interact with, monitor and manage their homes using any smart device.
The Simpson Thacher team included Matthew Levy, Ashley Yoon and Mary-Jane Rabeony (Capital Markets); Eli Isak, Edward Bersuder and Stacy Friedman (Credit); Janet Nadile (Collateral), Jonathan Cantor and Edward Grais (Tax); Marcela Robledo and Marissa Lambert (Intellectual Property); Jeanne Annarumma and Nathan Utterback (Executive Compensation and Employee Benefits); Adeeb Fadil and Noreen Lavan (Environmental); and Amanda Weiss (Public Company Advisory Practice). Summer Associate Tianye Zhang provided valuable assistance.