Viavi Solutions completes USD 400m of senior convertible notes offering

(NASDAQ: VIAV) Viavi Solutions Inc. has completed the sale of USD 400m aggregate principal amount of its 1.00% Senior Convertible Notes due 2024 (the “Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), the company said.

Viavi has granted the initial purchasers a 30-day over-allotment option from the date of the pricing of the offering to purchase up to an additional USD 60m aggregate principal amount of the Notes. Net proceeds of the sale of the Notes totaled approximately USD 392.2m after deducting the initial purchasers´ discounts and estimated offering expenses.

Viavi intends to use net proceeds from the offering for refinancing, together with its cash on hand, its outstanding 0.625% Senior Convertible Notes due 2033 (the “2033 Notes”), including opportunistically repurchasing 2033 Notes in the future, as well as for general corporate purposes.

Viavi is a global provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems, supported by a worldwide channel community including Viavi Velocity Solution Partners. We deliver end-to-end visibility across physical, virtual and hybrid networks, enabling customers to optimize connectivity, quality of experience and profitability. Viavi is also a leader in high performance thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer electronics, automotive, defense and instrumentation markets.