debt
confidence high
sentiment neutral
materiality 0.65
Viasat units issue $1.975B 9.000% senior secured notes due 2029; redeem 6.750% notes due 2026
VIASAT INC
- Issuers placed $1.975B aggregate principal of 9.000% senior secured notes maturing Sept 15, 2029.
- Proceeds plus cash on hand redeemed all outstanding 6.750% senior secured notes due 2026 on Oct 1, 2024.
- Interest on new notes payable semi-annually Mar 15 and Sept 15 starting Mar 15, 2025 at 9.000% per year.
- Notes are first-lien senior secured obligations, ranking equally with existing and future senior secured debt.
- Change-of-control put at 101% of principal plus accrued interest; covenants limit additional debt, dividends, and asset sales.