Sept. 27, 2012
/PRNewswire/ -- ViaSat Inc. (Nasdaq: VSAT) intends to commence an offering of an additional
in aggregate principal amount of its 6.875% Senior Notes due 2020, 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 notes will be guaranteed on a senior unsecured basis by certain of ViaSat's existing and future subsidiaries.
The notes are an additional issuance of, and will be treated as a single class with, the
outstanding aggregate principal amount of ViaSat's 6.875% Senior Notes due 2020. The terms of the additional notes offered will be identical to the terms of the outstanding 6.875% Senior Notes due 2020, except for the issue date, the issue price, the first interest payment date for the notes and the date from which interest begins to accrue and that the additional notes will be subject to transfer restrictions. The additional notes will be designated by a different CUSIP number until ViaSat consummates an exchange offer for such notes or such notes are resold under a shelf registration statement, after which they will be designated by the same CUSIP number as, and be fungible with, the outstanding 6.875% Senior Notes due 2020.
ViaSat intends to use the net proceeds from the offering to repurchase any and all of its outstanding 8.875% Senior Notes due 2016 (the "2016 Notes") pursuant to a cash tender offer and consent solicitation announced today (and to redeem any outstanding 2016 Notes not so purchased). ViaSat intends to use any remaining net proceeds, after the repurchase of the 2016 Notes and associated fees and expenses, for general corporate purposes.