Mynaric US$20m delayed draw facility (2024)
Additional liquidity
Key terms
- Borrower or issuer
- Mynaric
- Date
- 14 Mar 2024
- Type
- Bank facility
- Amount
- US$20m
- Pricing
- 3m Term SOFR (2% floor) + 10.00%, or alternative base rate + 9.00%; up to 3% payable in kind until April 2025
- Maturity
- 2028
Recorded terms
- Structure
- Delayed draw facility added to the US$75m term loan on substantially the same terms, available until September 2025, borrower Mynaric USA Inc.
- Lenders and arrangers
- Funds affiliated with a US-based global investment management firm, lenders
- Country
- Germany
Parties
- Mynaric borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 15 Mar 2024 | Astroscale ¥7bn loan and credit facility from MUFG Bank (2024) | Bank facility | JPY 7bn |
| 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 |
| 24 Apr 2024 | ispace ¥7bn Sumitomo Mitsui Banking Corporation bridge and term loans (2024) | Bank facility | JPY 7bn |
| 30 Jul 2024 | Iridium US$200m incremental term loan (2024) | Bank facility | US$200m |
More from Mynaric
| Date | Financing | Type | Amount |
|---|---|---|---|
| 25 Apr 2023 | Mynaric US$75m secured term loan (2023) | Bank facility | US$75m |
| 2 May 2022 | Mynaric €25m credit line (2022) | Bank facility | €25m |
M&A and investment involving Mynaric
| Date | Deal | Type | Value |
|---|---|---|---|
| 14 Apr 2026 | Rocket Lab acquisition of Mynaric | M&A | US$155.3m |
| 12 Nov 2021 | Mynaric IPO on Nasdaq | IPO | US$66m |
Sources
- Mynaric press release (Form 6-K exhibit): borrowing capacity increased by US$20m sec.gov · 14 Mar 2024
About this record
Record ORB-2024-0021, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
