New Issue: ViaSat prices $300 million tap of 6 7/8% notes due 2020 at 103.5 to yield 6.133%

By Paul A. Harris

Portland, Ore., Sept. 27 - ViaSat, Inc. priced a $300 million add-on to its 6 7/8% senior notes due June 15, 2020 (existing ratings B1/B+) at 103.5 to yield 6.133% on Thursday, according to an informed source.

The reoffer price came in the middle of the 103 to 104 price talk.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the joint bookrunners.

Proceeds will be used to fund the tender and/or redeem the senior notes due 2016, with any remaining proceeds for general corporate purposes.

ViaSat is a Carlsbad, Calif.-based designer, producer and marketer of satellite and other wireless communication and networking systems for government and commercial customers.

Issuer:	ViaSat, Inc.
Amount:	$300 million
Maturity:	June 15, 2020
Security description:	Add-on to 6 7/8% senior notes due June 15, 2020
Bookrunners:	Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC
Co-managers:	Stephens Inc., B. Riley
Coupon:	6 7/8%
Price:	103.5
Yield:	6.133%
First call:	Make-whole call at Treasuries plus 50 bps until June 15, 2016, then callable at 103.438
Trade date:	Sept. 27
Settlement date:	Oct. 12 with accrued interest
Existing ratings:	Moody's: B1
	Standard & Poor's: B+
Distribution:	Rule 144A with registration rights
Price talk:	103 to 104
Marketing:	Quick to market
Original issue:	$275 million issue priced at par on Feb. 22, 2012
Total issue size:	$575 million

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