ViaSat prices $275M in notes to fund WildBlue deal

ViaSat prices $275 million in senior notes to fund WildBlue acquisition

• On 12:03 pm EDT, Tuesday October 20, 2009

CARLSBAD, Calif. (AP) -- Satellite communications equipment maker ViaSat Inc. said Tuesday that it has priced an offering of $275 million in notes intended to finance its acquisition of WildBlue Holding Inc.

ViaSat said Oct. 1 that it planned to buy WildBlue, which provides high-speed Internet access via satellites, for $568 million.

ViaSat's senior unsecured notes will have an interest rate of 8.875 percent per year and will be sold at 98.757 percent of their face value. It expects the offering to close on Thursday.

The Carlsbad, Calif., company expects to net $264 million from the offering. If the WildBlue deal does not go through, the proceeds will be used for general corporate purposes.

ViaSat shares fell 53 cents to $31.01 in afternoon trading.