VIAVI Announces Completion of Redemption of Its 0.625% Senior Convertible Notes due 2033

SAN JOSE, Calif., Oct. 12, 2018 /PRNewswire/ -- (NASDAQ: VIAV) Viavi Solutions Inc. ("VIAVI") today announced that it completed its previously announced redemption of all of its outstanding 0.625% Senior Convertible Notes Due 2033 (CUSIP No. 46612JAF8) (the "Notes") on October 10, 2018 (the "Redemption Date").

In connection with the redemption, holders of $111,997,000 aggregate principal amount of Notes converted their Notes in accordance with the terms and conditions of the Notes. In settlement of those conversions, VIAVI paid an aggregate of approximately $111.8 million in cash, including cash in lieu of fractional shares, and issued 231,795 shares of its common stock in the aggregate.

VIAVI redeemed the remaining $30,738,000 aggregate principal amount of outstanding Notes in accordance with its notice of redemption dated September 5, 2018. VIAVI paid to the registered holders of the Notes that were redeemed an aggregate of approximately $30.8 million, including accrued and unpaid interest to, but excluding, the Redemption Date.  No Notes remain outstanding following the conversions and the redemption described in this press release.

About VIAVI Solutions
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. We deliver end-to-end visibility across physical, virtual and hybrid networks, enabling customers to optimize connectivity, quality of experience and profitability. VIAVI is also a leader in high performance thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer electronics, automotive, defense and instrumentation markets. Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn, Twitter, YouTube and Facebook.

SOURCE VIAVI Financials