Ascent Capital Group, Inc. and its wholly owned subsidiary, Monitronics International, Inc. announced that Ascent and MONI received and rejected a counter proposal from an attorney purporting to represent certain unidentified holders of an undisclosed and unsubstantiated amount of MONI's approximately $1.1 billion term loan. MONI is currently soliciting consents from holders of the Term Loan to implement the second lien exchange offer contemplated in the previously disclosed transaction support agreement dated September 24, 2018, among Ascent, MONI and holders of approximately 66% of MONI's 9.125% Senior Notes due 2020. As previously disclosed, if the requisite majority consents to amend the Term Loan are not received, Ascent and MONI will instead implement the unsecured exchange offer contemplated by the Support Agreement, which does not require any consents from holders of the Term Loan.

The deadline for submitting consents to the Term Loan amendment remains 5:00 p.m., New York City time, on October 4, 2018. The terms of the Term Loan amendment have not been revised. Only Term Loan lenders who affirmatively consent to the amendment by the deadline will be eligible to receive the proposed 50 bps increase in interest rate spread and a share of the proposed $100 million aggregate repayment.