California-based satellite operator Viasat has announced that certain subsidiaries of the company intend raising $1.25 billion (€1.13bn) in Senior Secured Notes.

The cash is being raised by Connect Finco SARL and Connect U.S. Finco LLC via Connect Bidco Limited (a subsidiary of Inmarsat). Viasat owns London-based Inmarsat.

Most of the cash raised together with cash on hand, will be used to redeem a portion of the Issuers’ outstanding 6.75 per cent Senior Secured Notes due 2026 (the “Inmarsat 2026 Notes”) and to pay related fees and expenses.

Viasat is a US-based satellite communications company founded in 1986 by Mark Dankberg, who remains as Chairman and CEO.

Viasat bought Inmarsat in November 2021 for $7.3 billion made up of $850 million in cash, plus 46 million Viasat shares and the assumption of $3.4 billion of Inmarsat debt. The purchase was wrapped in May 2023.

Other posts by :

1. Rakuten makes historic satellite video call
2. Rocket Lab confirms D2C ambitions
3. Turkey establishes satellite production ecosystem
4. Italy joins Germany in IRIS2 alternate thoughts
5. Kazakhstan to create museum at Yuri Gagarin launch site
6. AST SpaceMobile gets $42 or $1500 price target
7. Analyst: GEO bloodbath taking place
8. SES AGM results: Appaloosa still objecting
9. SpaceX’s Shotwell worth $1.2bn

Categories: Articles, Business, Funding

Tags: Viasat