Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 175

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 175
---
164,409

        26,771

        Total debt

        7,218,294

        7,475,842

        Unamortized discount, debt issuance costs and fair value adjustments made in purchase accounting

        (175,569
        )

        (288,553
        )

        Less: current portion of long-term debt

        506,922

        58,054

        Total long-term debt
         
        $
        6,535,803

        $
        7,129,235

        (1)On October 1, 2024, the Inmarsat 2026 Notes were repurchased and redeemed in full with the net proceeds of the Inmarsat 2029 Notes and cash on hand.

28

VIASAT, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED) 

2022 Term Loan Facility In March 2022, the Company entered into the $700.0 million 2022 Term Loan Facility, which was fully drawn at closing and matures on March 4, 2029. At December 31, 2024, the Company had $682.5 million in principal amount of outstanding borrowings under the 2022 Term Loan Facility.Borrowings under the 2022 Term Loan Facility are required to be repaid in quarterly installments of $1.75 million each, which commenced on September 30, 2022, followed by a final installment of $654.5 million at maturity. Borrowings under the 2022 Term Loan Facility bear interest, at the Company’s option, at either (1) a base rate equal to the greater of the administrative agent’s prime rate as announced from time to time, the federal funds effective rate plus 0.50%, and the forward-looking term SOFR rate administered by CME for a one-month interest period plus 1.00%, subject to a floor of 1.50% for the initial term loans, plus an applicable margin of 3.50%, or (2) the forward-looking term SOFR rate administered by CME for the applicable interest period, subject to a floor of 0.50% for the initial term loans, plus an applicable margin of 4.50%. As of December 31, 2024, the effective interest rate on the Company’s outstanding borrowings under the 2022 Term Loan Facility was 9