ViaSat Secures $269M From Notes OfferingThursday, March 1, 2012
ViaSat Inc., a Carlsbad-based maker of satellite communications equipment and wireless network systems, said it completed an offering of $275 million in senior unsecured notes due 2020 on Feb. 27.
The notes, which were purchased by institutional buyers that included JPMorgan Securities LLC, Credit Suisse Securities USA LLC, Morgan Stanley & Co. LLC and Banco Bilbao Vizcaya Argentaria SA, bear an interest rate of 6.875 percent annually, and are payable semi-annually beginning June 15, the company said.
The net proceeds for the offering, after deducting expenses and commissions, were estimated at $269.3 million, and will be used for a variety of corporate purposes, including purchase, launch and operation of satellites, potential acquisitions, funding subscriber acquisition costs, and working capital.
— Mike Allen