Viavi Solutions Inc. (VIAV) Thursday said it intends to offer $250 million of 0.625% senior convertible notes due 2031. Related to this, the company has entered into exchange and/or subscription agreements with certain holders of its 1.625% senior convertible notes due 2026 and certain new investors.
The company will issue about $100.9 mln of 0.625% senior notes in exchange of $97.5 million of the 2026 notes, and nearly $149.1 million of new notes for cash. Upon closing the exchange transactions, about $152.5 million of the 2026 notes will remain outstanding.
The exchange and subscription transactions are expected to close concurrently by August 20.
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