Vivint, a residential security and home automation based in Provo, Utah, said that it has completed a $762 million senior bank debt financing. The new financing represents a $72 million increase over the previous financing and adds nine new lenders to the Company’s bank group, the company said in a written release. Goldman Sachs Specialty Lending Group led the financing.
Vivint, one of the largest residential security and home automation companies in North America, today announced it has completed a $762 million senior bank debt financing. The new financing represents a $72 million increase over the previous financing and adds nine new lenders to the Company’s bank group. “We are excited to add several new
lenders into our bank group, many of which are making their initial investments into the residential security and home automation space,” commented Christopher A. Black, Chief Financial Officer for Vivint. “We are also delighted to receive the continued support from our group of long-standing relationship banks that have been with us over the years.”
The financing was led by Goldman Sachs Specialty Lending Group, L.P. as Administrative/Syndication/Collateral Agent, Lead Joint Arranger and Joint Bookrunner along with Bank of America Merrill Lynch and Citibank, N.A. as Lead Joint Arrangers and Joint Bookrunners and Barclays Capital as Documentation Agent.
Todd Pedersen, CEO of Vivint commented, “The additional financing will help support what we expect to be another strong year of growth and innovation across our North American platform. Our lending partners have been an integral part of our success and we look forward to working with them going forward as we continue to grow our business.”
Vivint Inc. is a leading provider of home technology services in North America. Vivint’s technology-based platform integrates a wide range of wireless features and components that deliver simple, affordable home automation and solar solutions. In 2011, Vivint’s Full Home Automation package and Advanced Security package received a Consumer’s Digest “Best Buy” rating. Dedicated to protecting families, increasing energy efficiency, and simplifying lives, Vivint has more than 12 years of experience and supports more than 570,000 customers throughout the United States and Canada.