Monitronics International Inc., the alarm-monitoring company owned by Ascent Capital Group Inc. (ASCMA) will hold a lender meeting March 8 at 2:30 p.m. in New York to discuss $650 million of loans the company is seeking to refinance debt, according to a person with knowledge of the transaction.
The financing will include a $500 million term loan B due in six years and a $150 million revolving line of credit maturing in five years, said the person, who declined to be identified because the terms are private.
Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG are arranging the financing for the Dallas-based company, the person said.
Ascent Capital acquired Monitronics for $1.2 billion in December 2010, according to data compiled by Bloomberg.
Erica Bartsch, an outside spokeswoman for Ascent Capital, declined to comment.
In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan it can’t.
To contact the reporter on this story: Michael Amato in New York at Mamato3@bloomberg.net
To contact the editor responsible for this story: Faris Khan at email@example.com