Latham & Watkins Represents Inmarsat in Upsized US$1.975 Billion Senior Secured Notes Offering

Viasat, Inc. (Nasdaq: VSAT) has announced that its wholly owned indirect subsidiaries, Connect Finco SARL and Connect U.S. Finco LLC (together, the Issuers), have upsized and priced their offering of US$1.975 billion in aggregate principal amount of their 9.000% Senior Secured Notes due 2029. The offering was upsized from the previously announced US$1.250 billion in aggregate principal amount. The Issuers are wholly owned indirect subsidiaries of Connect Bidco Limited (Inmarsat), a wholly owned indirect subsidiary of Viasat. The notes were offered and sold to persons reasonably believed to be qualified institutional buyers in the United States through a private placement pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended. The notes will have an interest rate of 9.000% per annum and will be issued at a price equal to 100.00% of their face value. The closing of the sale of the notes, which is subject to customary conditions, is expected to occur on or about September 25, 2024.

Latham & Watkins LLP represents Inmarsat in the offering with a corporate team led by San Diego partner Craig Garner, New York partner Andrew Baker, and San Diego partner Ann Buckingham, with associates Hana Nah, Angel Marcial, Nicolas Gonzalez, and Radley Gillis. Advice was also provided on banking matters by Los Angeles partners Jason Bosworth and Jeffrey Senac, with associates Katherine Webb, Jessica Lietz, and Nilam Faqhir; on tax matters by New York partner Bora Bozkurt and Bay Area partner Kirt Switzer, with associate Claire Park;* and on compensation and benefits matters by San Diego partner Holly Bauer and New York partner Austin Ozawa, with Los Angeles/New York counsel Aryeh Zuber.

*Admitted to practice in Massachusetts only.