GREENWOOD VILLAGE, CO-Ascent Capital Group, Inc. says its wholly-owned subsidiary, Monitronics Escrow Corporation, intends to offer $150 million in senior notes due 2020.
If the the company moves forward with the issuance, proceeds will be placed into escrow and will be used as part of the funding needed for Monitronics to acquire Security Networks, LLC, West Palm Beach, FL. Both companies provide home security alarm monitoring technologies.
If that buy goes through, the escrow issuer would be merged into Monitronics, and Monitronics would assume the notes.
With an aggregate principal amount of 9.125%, the offering will be subject to market and other conditions.
Ascent Capital Group, Greenwood Village, is a holding company and owns 100% of its operating subsidiaries, including Monitronics, which is based in Dallas.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
