Viasat Announces Issuance of Notice of Early Full Redemption of Senior Unsecured Notes
Rhea-AI Summary
Viasat Inc (NASDAQ: VSAT) has announced the early full redemption of its outstanding 5.625% senior notes due 2025. The company will redeem the remaining $442.55 million aggregate principal amount ahead of the September 15, 2025 maturity date. The redemption will occur on May 2, 2025, at a cash redemption price of 100% of the principal amount plus accrued and unpaid interest. Viasat plans to utilize its cash on hand to fund this redemption.
Positive
- Early debt retirement demonstrates strong cash position
- Full redemption of $442.55 million in senior notes reduces future interest expenses
- Use of cash on hand indicates healthy liquidity without need for refinancing
Negative
- Significant cash outlay of $442.55 million reduces available working capital
Full Redemption of Remaining
CARLSBAD, Calif., April 22, 2025 (GLOBE NEWSWIRE) -- Viasat Inc. (NASDAQ: VSAT), a global leader in satellite communications, today announced that it has issued a notice of redemption for all
Interest on the redeemed 2025 Notes will cease to accrue and the 2025 Notes will cease to be outstanding effective as of the redemption date of May 2, 2025.
This press release does not constitute a notice of redemption of the 2025 Notes. Holders of the 2025 Notes should refer to the notice of redemption delivered to the registered holders of the 2025 Notes by Wilmington Trust, National Association, the trustee with respect to the 2025 Notes.
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people’s lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. In May 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on LinkedIn, X, Instagram, Facebook, Bluesky, Threads, and YouTube.
Copyright © 2025 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat Signal are registered trademarks in the U.S. and in other countries of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Viasat, Inc. Contacts:
Jonathan Sinnatt, Corporate Communications, PR@viasat.com
Lisa Curran/Peter Lopez, Investor Relations, IR@viasat.com
Forward-Looking Statements
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 related to the redemption of the 2025 Notes. 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.
FAQ
What is the total amount of Viasat's (VSAT) senior notes being redeemed in May 2025?
When will Viasat (VSAT) complete the early redemption of its 2025 senior notes?
What is the redemption price for Viasat's (VSAT) 2025 senior notes?
How will Viasat (VSAT) fund the redemption of its 2025 senior notes?
