Brinks Security Operator Monitronics’ Reorganization Confirmed

Monitronics International Inc., which operates Brinks Home Security service, received court confirmation of a pre-negotiated bankruptcy reorganization plan that keeps it in business and cuts debt by $885 million.

Under the plan, the home-monitoring company will convert $685 million in debt to equity, while $822.5 million worth of term loans will be converted into a “takeback term loan facility,” it said.

The Ascent Captial Group Inc. subsidiary also lined up $295 million in new loans to fund operations after emerging from bankruptcy and expects to receive $177 million through an equity rights offering.

Monitronics expects to emerge from Chapter 11 ...