iQPS ¥5bn syndicated loan with SMRJ guarantee
Mass-production build-out of the small SAR satellite constellation
Key terms
- Borrower or issuer
- iQPS
- Date
- 24 Oct 2023
- Type
- Bank facility
- Amount
- JPY 5bn (US$36m)
- Maturity
- 5 years
Recorded terms
- Structure
- Five-year syndicated loan, drawn 31 October 2023; 50% of principal guaranteed by SME Support Japan (SMRJ)
- Lenders and arrangers
- SMBC (arranger), Shizuoka Bank (co-arranger), Resona Bank, Kiyo Bank, Bank of Fukuoka, Saga Bank, Yamanashi Chuo Bank, Joyo Bank
- Country
- Japan
Parties
- iQPS borrower or issuer
- Lenders: Resona Bank, Shizuoka Bank, Kiyo Bank, Bank of Fukuoka, Saga Bank, Yamanashi Chuo Bank, Joyo Bank, SMBC Group
- Public lenders and funders: SME Support Japan (SMRJ)
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 10 Oct 2023 | Aireon US$175m secured term loans | Bank facility | US$175m |
| 20 Sep 2023 | Iridium US$1.5bn term loan B and US$100m revolver (2023 amendment) | Bank facility | US$1.6bn |
| 30 Aug 2023 | ispace ¥3bn Sumitomo Mitsui Banking Corporation loan (2023) | Bank facility | JPY 3bn |
| 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$100m |
More from iQPS
| Date | Financing | Type | Amount |
|---|---|---|---|
| 30 Jan 2026 | iQPS ¥6.2bn syndicated term loan | Bank facility | JPY 6.2bn |
Sources
- SMBC: syndicated loan to QPS研究所 using the SMRJ guarantee www2.smbc.co.jp · 1 Nov 2023
- iQPS TDnet: non-operating expenses (commitment syndicated loan, SMBC arranger) www2.jpx.co.jp · 11 Oct 2024
About this record
Record ORB-2023-0012, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
