05:29 PM EDT, 09/11/2024 (MT Newswires) -- Viasat ( VSAT ) said Wednesday that its units Connect Finco and Connect US Finco upsized and priced a $1.98 billion offering of 9% senior secured notes due 2029.

The company expects to close the offering on or about Sept. 25.

Net proceeds from the offering along with cash on hand will be used to redeem all outstanding 6.75% senior secured notes due 2026 and to pay related fees and expenses.

Shares of the company were up 2.2% in recent after-hours activity.

Price: 15.19, Change: +0.32, Percent Change: +2.15