RigNet Completes Bank Refinancing Led by Bank of America, N.A.

RigNet Completes Bank Refinancing Led by Bank of America, N.A.

HOUSTON, Oct. 8, 2013 (GLOBE NEWSWIRE) -- RigNet, Inc., (Nasdaq:RNET) a
leading global provider of managed remote communications, systems integration
and collaborative applications dedicated to the oil and gas industry, focusing
on offshore and onshore drilling rigs, energy production facilities and energy
maritime, announced today that it has entered into a Second Amendment and
Restated Credit Agreement with Bank of America, N.A, as administrative agent,
and the lenders party thereto. The amendment provides for a $60.0 million term
loan facility and a $125.0 million revolving credit facility, which includes a
$15.0 million sublimit for the issuance of standby letters of credit. The
Company had $54.6 million in term loans outstanding immediately prior to the
second amendment and restatement and $60.0 million outstanding immediately
after the second amendment and restatement. The new credit facility will
allow the Company to continue to fund its growth opportunities and reduce
total borrowing costs.

Marty Jimmerson, RigNet's chief financial officer, noted, "This refinancing,
led by Bank of America, provides RigNet with increased financial flexibility
to execute on our organic and inorganic growth opportunities. We anticipate
using a combination of cash on hand and the new revolver to finance the $25.0
million acquisition of Inmarsat's Energy Broadband business expected to close
during or before the first quarter of 2014. Bank of America has been RigNet's
strategic financing partner since 2009. We appreciate the confidence that
Bank of America and the other lenders in the syndicate, including Compass
Bank, Wells Fargo Bank and BOKF (Bank of Texas), have shown in RigNet and this
management team."

Lisa Barksdale, Bank of America's Global Commercial Banking executive for
South Texas, noted, "RigNet has a strong track record of operational
excellence and market growth. As a long-term strategic partner, we are
pleased to lead a credit facility that provides the flexibility for RigNet to
execute on its global expansion strategy."

About RigNet

RigNet (Nasdaq:RNET) is a leading global provider of managed remote
communications, systems integration and collaborative applications dedicated
to the oil and gas industry, focusing on offshore and onshore drilling rigs,
energy production facilities and energy maritime. RigNet provides solutions
ranging from fully-managed voice and data networks to more advanced
applications that include video conferencing and real-time data services to
over 1,100 remote sites in over thirty countries on six continents,
effectively spanning the drilling and production industry. RigNet is based in
Houston, Texas. For more information, please visit www.rig.net. RigNet is a
registered trademark of RigNet, Inc.

CONTACT: Investor Contact:
         Marty Jimmerson
         Chief Financial Officer, RigNet
         Tel:  +1 (281) 674-0118
         investor.relations@rig.net

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