The proceeds from the second lien term loan were utilized to refinance existing mezzanine notes, which reduced interest and extended maturities. In addition, the size of existing first lien term loan was increased by $25 million, which alongside the new second lien term loan created a total facility size of $305 million, which will provide significant liquidity for the company to support its growth efforts.
“Imperial Capital was an exceptional partner to work with during our successful financing efforts. Its contributions to every aspect of the transaction, including structuring and marketing of the second lien term loan, proved to be instrumental in tremendous lender interest. We are extremely pleased with the outcome of the transaction, which will provide more than sufficient capital to meet our identified growth plan,” said Amy Kothari, chief executive officer of My Alarm Center.
Newtown Square, PA-based My Alarm Center is a provider of security alarm and home automation solutions for residential households in the U.S. with approximately 185,000 subscribers. “The strong execution of the second lien term loan exemplifies the strength of Imperial Capital’s capabilities, as well as investor confidence in My Alarm Center’s compelling value proposition,” said Sonya Brown, General Partner of Norwest Venture Partners.
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, San Francisco, London, Minneapolis, Boston, Chicago and Houston.