Maxar US$2bn amended and restated credit facilities (2022)
Refinance the existing term loans and revolver, alongside the US$500m 7.750% notes
Key terms
- Borrower or issuer
- Maxar Technologies
- Date
- 14 Jun 2022
- Type
- Bank facility
- Amount
- US$2bn
- Pricing
- Term loan B: Term SOFR + 4.00-4.25% by leverage
- Maturity
- 2027-06-15 / 2029-06-14
Recorded terms
- Structure
- Second amended and restated credit agreement: US$1.5bn term loan B (1% annual amortisation, due June 2029) and US$500m revolver (due June 2027), with springing maturities tied to the 2027 notes
- Lenders and arrangers
- Royal Bank of Canada, administrative and collateral agent; joint bookrunners and lead arrangers: RBC Capital Markets, BofA Securities, Barclays Bank plc, BMO Capital Markets
- Country
- United States
Parties
- Maxar Technologies borrower or issuer
- Lenders: BofA Securities, Barclays, RBC Capital Markets, BMO Capital Markets
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 13 Jun 2022 | Spire Global US$120m term loan (Blue Torch) | Bank facility | US$120m |
| 4 Aug 2022 | Hispasat €250m ESG-linked revolving credit facility (2022) | Bank facility | €250m |
| 4 Mar 2022 | Viasat US$700m term loan B | Bank facility | US$700m |
| 20 Dec 2021 | Intelsat DIP-to-exit financing on emergence from Chapter 11 | Bank facility | US$7.88bn |
| 24 Nov 2021 | Terran Orbital US$150m senior secured notes (Francisco Partners) | Bank facility | US$150m |
More from Maxar Technologies
| Date | Financing | Type | Amount |
|---|---|---|---|
| 3 May 2023 | Maxar take-private by Advent | Acquisition finance | US$6.4bn |
| 10 Jun 2022 | Maxar Technologies US$500m 7.75% senior notes due 2027 | Bond | US$500m |
| 18 Nov 2019 | Maxar Technologies US$1,000m 9.75% senior notes due 2023 | Bond | US$1bn |
| 5 Oct 2017 | Maxar US$3.75bn syndicated credit facility for the DigitalGlobe acquisition | Acquisition finance | US$3.75bn |
M&A and investment involving Maxar Technologies
| Date | Deal | Type | Value |
|---|---|---|---|
| 3 May 2023 | Advent International take-private of Maxar Technologies | M&A | US$6.4bn |
| 1 Jul 2020 | Maxar acquisition of Vricon | M&A | US$140m |
| 8 Apr 2020 | Northern Private Capital acquisition of MDA from Maxar | M&A | C$1bn |
Sources
- Maxar Form 8-K: senior secured notes and amended and restated credit agreement sec.gov · 14 Jun 2022
- Maxar second amended and restated credit agreement (Exhibit 10.1) sec.gov · 14 Jun 2022
About this record
Record ORB-2022-0008, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
