Vivint Smart Home’s $225 Million High Yield Notes Offering


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 Igor Fert (Picture), 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.

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Edward Bersuder – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Igor Fert – Simpson Thacher & Bartlett; Stacie Friedman – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Eli Isak – Simpson Thacher & Bartlett; Marissa Lambert – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Matthew Levy – Simpson Thacher & Bartlett; Janet Nadile – Simpson Thacher & Bartlett; Mary-Jane Rabeony – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Nathan Utterback – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett; Ashley Sunha Yoon – Simpson Thacher & Bartlett; Tianye Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: APX Group, Inc.;