Viasat amends $616.7M term loan; covenants and prepayment events modified

VIASAT INC

Amended $616.7M term loan facility originally fully drawn May 30, 2023, maturing May 2030.
Quarterly repayments of ~$1.5M start Dec 31, 2023; final balloon payment ~$576.6M at maturity.
Interest at SOFR + 4.50% plus credit spread adjustment (0.11%-0.43%) or base rate + 3.50%.
Amendments include changes to certain prepayment events and negative covenants.
Loan guaranteed by material domestic subsidiaries and secured by substantially all assets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

VIASAT INC amended A&R Term Loan Agreement with Bank of America, N.A. (as administrative agent and collateral agent) and the other lenders party thereto valued at $616.7 million term loan facility (effective 2023-09-22).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. (as administrative agent and collateral agent) and the other lenders party thereto
Value: $616.7 million term loan facility
Effective: 2023-09-22

Exact text from the filing

On September 22, 2023, Viasat, Inc. (“Viasat”), Bank of America, N.A. (as administrative agent and collateral agent, the “Administrative Agent”) and the other lenders party thereto entered into an Amendment and Restatement Agreement pursuant to which the Credit Agreement by and among Viasat (as borrower), the Administrative Agent and the lenders party thereto, dated as of May 30, 2023, which provides for a $616.7 million term loan facility that was fully drawn on May 30, 2023 and matures in May 2030, was amended and restated (the “A&R Term Loan Agreement”).

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Source: SEC EDGAR

accession 0001193125-23-241320

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