Monitronics Int’l Inc. announces it has completed a $500 million refinancing of its debt facilities. This brings the total debt and equity raised by the company since its inception to more than $600 million. The new financing included a private placement of $160 million of senior subordinated notes and a $320 million credit facility.
Some of the proceeds were used to repay Monitronics’ existing bank credit facility and to redeem certain subordinated notes. The balance of the proceeds will be used for general corporate purposes, including the expansion of its customer base through future acquisitions of long-term alarm monitoring agreements from authorized dealers.
The notes have not been registered under the Securities Act of 1933 or applicable state securities laws. They were sold to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A and to other eligible purchasers pursuant to offers and sales that occurred outside the United States within the meaning of Regulation S under the 1933 Act. Unless registered, the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Act and applicable state securities laws.
