AST SpaceMobile US$550m non-recourse delayed-draw term loan for Ligado spectrum
Fund payments to Ligado Networks for access to up to 45 MHz of L-band spectrum in the US and Canada for direct-to-device service
Key terms
- Borrower or issuer
- AST SpaceMobile
- Date
- 15 Jul 2025
- Type
- Bank facility
- Amount
- US$550m
Recorded terms
- Structure
- Non-recourse senior secured delayed-draw term loan to Spectrum USA I, LLC; available to draw until 5 October 2026 (extendable 180 days for a 1% fee)
- Lenders and arrangers
- Sound Point Agency LLC, administrative agent and collateral agent
- Country
- United States
Parties
- AST SpaceMobile borrower or issuer
- Private credit: Sound Point Capital
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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 |
| 25 Jun 2025 | AST SpaceMobile US$225m 4.25% convertible notes due 2032 (additional) | Convertible | US$225m |
| 27 Jan 2025 | AST SpaceMobile US$400m 4.25% convertible senior notes due 2032 | Convertible | US$400m |
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$457m |
Sources
- AST SpaceMobile Form 8-K: spectrum credit agreement sec.gov · 18 Jul 2025
About this record
Record ORB-2025-0018, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
