Daily News: March 2, 2012

Vivint Expands Bank Financing, Adds Nine to Lender Group


Vivint, a residential security and home automation company, 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.

The financing was led by Goldman Sachs Specialty Lending Group as administrative, syndication and collateral agent, lead joint arranger and joint bookrunner along with Bank of America Merrill Lynch and Citibank as lead joint arrangers and joint bookrunners and Barclays Capital as documentation agent.

“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, CFO 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.”

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.”