AST SpaceMobile US$100m senior secured term loan (Atlas Credit Partners)
Satellite build and general corporate purposes
Key terms
- Borrower or issuer
- AST SpaceMobile
- Date
- 14 Aug 2023
- Type
- Bank facility
- Amount
- US$100m
- Pricing
- Fixed 14.75% (3-month SOFR + 9.625% at signing)
- Maturity
- 2026-08-14
Recorded terms
- Structure
- Senior secured term loan: US$48.5m drawn at closing, US$51.5m more available only with new equity and insurance cover
- Lenders and arrangers
- Atlas Credit Partners, LLC, lender; ACP Post Oak Credit II LLC, administrative agent and collateral agent
- Country
- United States
Parties
- AST SpaceMobile borrower or issuer
- Private credit: Atlas Credit Partners
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Aug 2023 | Viasat US$597.5m revolving credit facility (2023 extension) | Bank facility | US$597.5m |
| 20 Sep 2023 | Iridium US$1.5bn term loan B and US$100m revolver (2023 amendment) | Bank facility | US$1.6bn |
| 10 Oct 2023 | Aireon US$175m secured term loans | Bank facility | US$175m |
| 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 |
More from AST SpaceMobile
| Date | Financing | Type | Amount |
|---|---|---|---|
| 15 Jul 2026 | AST SpaceMobile US$1.0bn 1.625% convertible notes due 2034 | Convertible | US$1bn |
| 11 Feb 2026 | AST SpaceMobile US$1.0bn 2.25% convertible notes due 2036 | Convertible | US$1bn |
| 24 Oct 2025 | AST SpaceMobile US$1,000m convertible senior notes due 2036 | Convertible | US$1bn |
| 25 Jul 2025 | AST SpaceMobile US$500m 2.375% convertible notes due 2032 | Convertible | US$500m |
| 15 Jul 2025 | AST SpaceMobile US$550m non-recourse delayed-draw term loan for Ligado spectrum | Bank facility | US$550m |
| 25 Jun 2025 | AST SpaceMobile US$225m 4.25% convertible notes due 2032 (additional) | Convertible | US$225m |
M&A and investment involving AST SpaceMobile
| Date | Deal | Type | Value |
|---|---|---|---|
| 2 Dec 2022 | AST SpaceMobile US$75m share offering | Equity raise | US$75m |
| 6 Apr 2021 | AST SpaceMobile SPAC merger with New Providence | SPAC merger | US$457m |
Sources
- AST SpaceMobile Form 8-K: Atlas credit facility sec.gov · 15 Aug 2023
About this record
Record ORB-2023-0008, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
