VIASAT INC (VSAT): debt financing — Viasat closes $733.4M 7.500% senior notes offering, net proceeds $728.2M used to repay bridge loan

VIASAT INC

Issued $733.4M aggregate principal of 7.500% Senior Notes due 2031; net proceeds ~$728.2M after commissions.
Net proceeds used to repay the $733.4M Bridge Credit Facility (drawn for the Inmarsat acquisition) in full.
Notes are senior unsecured obligations and rank equally with Viasat's existing 5.625% and 6.500% senior notes.
Interest at 7.500% per year, payable semi-annually; notes mature May 30, 2031.
Issued in private placement to QIBs under Rule 144A and offshore under Reg S; not registered.

item 1.01 item 1.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

VIASAT INC incurred senior notes of $733.4 million with Wilmington Trust, National Association at 7.500% maturing 2031.

Instrument: senior notes
Principal: $733.4 million
Counterparty: Wilmington Trust, National Association
Rate: 7.500%
Maturity: 2031
Event: incurrence

Exact text from the filing

completed the closing of the sale of $733.4 million in aggregate principal amount of its 7.500% Senior Notes due 2031

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VIASAT INC entered into Indenture dated September 28, 2023 for 7.500% Senior Notes due 2031 with Wilmington Trust, National Association valued at $733,400,000 aggregate principal amount of 7.500% Senior Notes due 2031 (effective 2023-09-28).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $733,400,000 aggregate principal amount of 7.500% Senior Notes due 2031
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Viasat, Inc. (“Viasat”) completed the closing of the sale of $733.4 million in aggregate principal amount of its 7.500% Senior Notes due 2031 (the “Notes”), receiving net proceeds of approximately $728.2 million, after deducting estimated commissions and offering expenses.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VIASAT INC terminated Bridge Credit Agreement dated May 30, 2023 for $733.4 million unsecured bridge loan facility with JPMorgan Chase Bank, N.A. valued at $733,400,000 unsecured bridge loan facility repaid in full (effective 2023-09-28).

Action: termination
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $733,400,000 unsecured bridge loan facility repaid in full
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Viasat used the net proceeds from this offering (which were approximately $728.2 million, after deducting estimated commissions and offering expenses), together with cash on hand, to repay the Bridge Facility in full, and in connection therewith, all liabilities, obligations and indebtedness under the Bridge Credit Agreement were released, discharged and satisfied in full.

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102 debt financings filed in the last 30 days. Browse all debt financings →

VIASAT INC filing history →

Source: SEC EDGAR

accession 0001193125-23-245746

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