Viasat US$597.5m revolving credit facility (2023 extension)
Extend the revolving credit facility after the Inmarsat acquisition
Key terms
- Borrower or issuer
- Viasat
- Date
- 24 Aug 2023
- Type
- Bank facility
- Amount
- US$597.5m
- Pricing
- Term SOFR (0% floor) or base rate, plus a margin set by total leverage
- Maturity
- 2028-08-24
Recorded terms
- Structure
- Seventh amendment to the 2013 senior secured revolving credit agreement: commitments of US$597.5m with extra covenant flexibility; springing maturity 91 days before certain material debt
- Lenders and arrangers
- MUFG Bank, Ltd., administrative agent and collateral agent; BofA Securities, sole lead arranger and sole bookrunner
- Country
- United States
Parties
- Viasat borrower or issuer
- Lenders: BofA Securities, MUFG
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 14 Aug 2023 | AST SpaceMobile US$100m senior secured term loan (Atlas Credit Partners) | Bank facility | US$100m |
| 20 Sep 2023 | Iridium US$1.5bn term loan B and US$100m revolver (2023 amendment) | Bank facility | US$1.6bn |
| 10 Oct 2023 | Aireon US$175m secured term loans | Bank facility | US$175m |
| 28 Mar 2024 | Inmarsat US$1.85bn term loan and revolver refinancing (2024) | Bank facility | US$1.85bn |
| 11 Apr 2024 | BlackSky US$20m revolving credit facility (Stifel Bank) | Bank facility | US$20m |
More from Viasat
| Date | Financing | Type | Amount |
|---|---|---|---|
| 21 Jan 2026 | Viasat US EXIM direct loan for ViaSat-3 F1 launch and insurance | Export credit | US$188.7m |
| 11 Sep 2024 | Viasat US$1,975m 9.000% senior notes due 2029 | Bond | US$1.98bn |
| 21 Sep 2023 | Viasat US$733m 7.500% senior notes due 2031 | Bond | US$733.4m |
| 30 May 2023 | Viasat US$1.35bn acquisition financing for Inmarsat | Acquisition finance | US$1.35bn |
| 4 Mar 2022 | Viasat US$700m term loan B | Bank facility | US$700m |
| 18 Jun 2020 | Viasat US$400m 6.500% senior notes due 2028 | Bond | US$400m |
M&A and investment involving Viasat
| Date | Deal | Type | Value |
|---|---|---|---|
| 30 May 2023 | Viasat acquisition of Inmarsat | M&A | US$7.3bn |
| 30 Apr 2021 | Viasat acquisition of RigNet | M&A | US$222m |
Sources
- Viasat Form 8-K: seventh amendment to the revolving credit agreement sec.gov · 25 Aug 2023
- Viasat seventh amendment to credit agreement (Exhibit 10.1) sec.gov · 25 Aug 2023
About this record
Record ORB-2023-0007, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
