Orrick represented Viavi Solutions Inc. (“VIAVI”) in private exchange transactions of $151.5 million aggregate principal amount of its 0.625% Senior Convertible Notes due 2033 for $155.5 million aggregate principal amount of its newly issued 1.75% Senior Convertible Notes due 2023 (the “New Notes”) and the issuance of $69.5 million aggregate principal amount of New Notes in a concurrent private placement to institutional accredited investors. The transactions closed on May 29, 2018.
VIAVI (Nasdaq: VIAV) is a global provider of network test, monitoring and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil, government, military and avionics customers, supported by a worldwide channel community including VIAVI Velocity Partners.
The Orrick team that advised VIAVI on these transactions was led by Global Head of Orrick’s M&A and Private Equity group Ed Batts and Capital Markets partner Stephen Ashley. Other members of the Orrick team included Kenneth Marx, Maria Bergenhem, Marley Brison, John Narducci and Stephen Lessard.