Aireon US$175m secured term loans
Not disclosed; Aireon runs the space-based ADS-B aircraft surveillance network hosted on Iridium NEXT satellites
Key terms
- Borrower or issuer
- Aireon
- Date
- 10 Oct 2023
- Type
- Bank facility
- Amount
- US$175m
- Pricing
- SOFR + 6.25% (base rate + 5.25%)
- Maturity
- 2028-10-10
Recorded terms
- Structure
- Senior secured term loans under a credit and guaranty agreement; quarterly amortisation of 1.875% of original principal; prepayment premium of 3% to October 2026 and 1% to October 2027
- Lenders and arrangers
- GLAS USA LLC, administrative agent; GLAS Americas LLC, collateral agent
- Country
- United States
Parties
- Aireon borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 20 Sep 2023 | Iridium US$1.5bn term loan B and US$100m revolver (2023 amendment) | Bank facility | US$1.6bn |
| 24 Aug 2023 | Viasat US$597.5m revolving credit facility (2023 extension) | Bank facility | US$597.5m |
| 14 Aug 2023 | AST SpaceMobile US$100m senior secured term loan (Atlas Credit Partners) | Bank facility | US$100m |
| 28 Mar 2024 | Inmarsat US$1.85bn term loan and revolver refinancing (2024) | Bank facility | US$1.85bn |
| 11 Apr 2024 | BlackSky US$20m revolving credit facility (Stifel Bank) | Bank facility | US$20m |
M&A and investment involving Aireon
| Date | Deal | Type | Value |
|---|---|---|---|
| 7 Jul 2026 | Iridium acquisition of Aireon | M&A | Not disclosed |
Sources
- Iridium Form 8-K: Aireon acquisition and credit agreements sec.gov · 7 Jul 2026
About this record
Record ORB-2023-0006, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
