Ascent Capital said that its wholly owned subsidiary, Monitronics International, has completed the repricing of its senior secured credit facility, which is comprised of a $150 million revolver and a term loan B under which $691 million remains outstanding.

The repriced facility will now have a reduced interest rate of LIBOR plus 3.25% with a LIBOR floor of 1.00% for the Term Loan B and a reduced interest rate of LIBOR plus 3.75% with a LIBOR floor of 1.00% for the revolver. Concurrently, Monitronics extended the maturity of its senior secured revolving credit facility by nine months to December 22, 2017.

In conjunction with the repricing, Monitronics also amended its interest rate swap arrangement resulting in a new fixed interest rate of 5.0%, as compared to 6.2% on the former term loan B. Monitronics expects that the repricing will result in a pro forma annualized interest expense savings of approximately $8.1 million.

Mike Haislip, president and chief executive officer of Monitronics International, said, “We are pleased with the results of this transaction, which significantly reduces our cost of debt and extends the maturity of our revolver. Our business will benefit from the annual cost savings as well as the financial flexibility it affords us to invest in future growth. We appreciate the continued strong support from our debt investors and our lenders.”

Ascent is a holding company and owns 100% of its operating subsidiaries, including Monitronics, a home security alarm monitoring company, headquartered in Dallas, TX, and certain former subsidiaries of Ascent Media Group.