Viavi sells USD 500 million in shares to help pay down debt
Viavi Solutions announced an underwritten public offering to raise approximately USD 500 million gross by selling about 11.1 million common shares. The offering was priced at USD 45 per share, a small discount to its recent share price of over USD 50. Net proceeds from the offering, scheduled to close on 21 May, will help Viavi clear USD 450 million on the aggregate principal of its “B” term loan, with any capital left over allocated to working capital and general corporate activities.