Maxar US$3.75bn syndicated credit facility for the DigitalGlobe acquisition
Pay the cash part of the DigitalGlobe acquisition, refinance DigitalGlobe's debt (US$1.3bn) and Maxar's own debt (US$742m), and pay fees and expenses
Key terms
- Borrower or issuer
- Maxar Technologies
- Date
- 5 Oct 2017
- Type
- Acquisition finance
- Amount
- US$3.75bn
- Pricing
- Term loan B at LIBOR + 275bp; revolver and term loan A at LIBOR or CDOR + 120-350bp depending on leverage
- Maturity
- 2024-10-05
Recorded terms
- Structure
- Senior secured first lien: US$1.15bn four-year revolving credit facility and US$100m operating facility; US$500m term loan A (two US$250m tranches, three and four years); US$2.0bn seven-year term loan B
- Country
- Canada
Parties
- Maxar Technologies borrower or issuer
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|---|---|---|---|
| 30 May 2023 | Viasat US$1.35bn acquisition financing for Inmarsat | Acquisition finance | US$1.35bn |
| 25 Mar 2024 | Iridium US$125m incremental term loan for the Satelles acquisition | Acquisition finance | US$125m |
| 19 Jun 2024 | SES acquisition financing for Intelsat | Acquisition finance | €3bn |
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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 |
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$1bn |
Sources
- Maxar Technologies 2018 annual report on Form 10-K sec.gov · 1 Mar 2019
- DigitalGlobe Form 8-K: completion of merger sec.gov · 10 Oct 2017
About this record
Record ORB-2017-0004, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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
Acquisition debt is committed before signing, often as a bridge, and refinanced with bonds or term loans once the deal closes.
