Viavi Solutions Inc. announced a share exchange involving its 1.625% Convertible Senior Notes due 2026.
The company will exchange $103.463 million of the 2026 Notes for 7,871,043 shares of common stock.
The exchange is part of a strategic plan to prepay a portion of a Term Loan Credit Facility.
Share Exchange Details
$103.463 million of 2026 Notes exchanged for 7,871,043 shares at $17.88 per share.
Remaining Notes
After the exchange, approximately $49.037 million of the 2026 Notes will remain outstanding.
Use of Proceeds
Proceeds will be used to prepay a minimum of $100 million of the Term Loan Credit Facility.
- The share exchange will strengthen Viavi's financial position by reducing outstanding debt.
- Prepayment of the Term Loan Credit Facility will lower interest expenses and improve liquidity.
Viavi's strategic move to exchange notes for shares and prepay debt demonstrates a proactive approach to financial management.