Viasat to repay borrowings, plans to reduce revolver by $100 million

By Marisa Wong

Morgantown, W.Va., March 19 – Viasat, Inc. said it intends to repay all of the outstanding borrowings under its existing revolving credit facility using proceeds from an offering of new senior secured notes.

The company announced in a press release on Tuesday that it plans to offer $500 million of senior secured notes due 2027.

In addition to the repayment of outstanding borrowings, Viasat expects to reduce available commitments under its revolver to $700 million from $800 million, according to the news release.

Viasat is a Carlsbad, Calif.-based provider of satellite and other wireless networking systems.

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