ViaSat, Inc.
Sep 5, 2017

ViaSat Announces Proposed Private Placement of $600 Million of Senior Notes

CARLSBAD, Calif., Sept. 5, 2017 /PRNewswire/ -- ViaSat, Inc. (Nasdaq: VSAT) intends to commence an offering of $600 million in aggregate principal amount of senior unsecured notes due 2025, subject to market and other conditions. The notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The notes will bear interest at a rate to be determined by negotiations between ViaSat and the initial purchasers, and will be guaranteed on a senior unsecured basis by any and all of ViaSat's domestic restricted subsidiaries that in the future guarantee ViaSat's existing revolving credit facility.

ViaSat intends to use the net proceeds from the offering to finance the purchase of all of its outstanding 6.875% Senior Notes due 2020 (the "2020 Notes") pursuant to a cash tender offer announced today (and to redeem any outstanding 2020 Notes not so purchased).

The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act.

This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities, and no offer, solicitation or sale will be made in any jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale is unlawful. Any offers of the notes will be made only by means of a private offering memorandum. The tender offer announced today is being made pursuant to an Offer to Purchase, dated September 5, 2017, and related Letter of Transmittal. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the 2020 Notes. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Safe Harbor Statement

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements regarding the proposed offering and the use of proceeds therefrom, and are generally identified with words such as "believe," "could," "expect," "intend," "may," "plan," "will" and similar expressions. Such statements reflect management's current expectations and judgment as of the date of this press release. Risks, uncertainties and assumptions that could affect ViaSat's forward-looking statements include, among other things, the completion of the tender offer. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, including ViaSat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.

 

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SOURCE ViaSat, Inc.

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