04:50 PM EDT, 09/25/2024 (MT Newswires) -- Viasat's ( VSAT ) indirect subsidiaries Connect Finco and Connect US Finco completed their offering of $1.975 billion of 9% senior secured notes due 2029.

The oversubscribed offering was increased from the initial size of $1.25 billion, the company said Wednesday in a statement.

Net proceeds plus cash will be used to redeem all of the issuers' outstanding 6.75% notes due 2026 and to pay related expenses, Viasat ( VSAT ) said.

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