ORBCOMM US$250m credit facilities refinancing the 2024 notes
Redeem the US$220m 8.0% senior secured notes due 2024 at 104%, working capital and general corporate purposes
Key terms
- Borrower or issuer
- ORBCOMM
- Date
- 2 Dec 2020
- Type
- Bank facility
- Amount
- US$250m
Recorded terms
- Structure
- Senior secured amended and restated credit agreement: US$200m term loan and US$50m revolving credit facility
- Lenders and arrangers
- JPMorgan Chase Bank, N.A., administrative agent and collateral agent
- Country
- United States
Parties
- ORBCOMM borrower or issuer
- Lenders: J.P. Morgan
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 9 Dec 2020 | ABL Space Systems debt raise of US$20m | Bank facility | US$20m |
| 7 Oct 2020 | CesiumAstro debt raise of US$15m | Bank facility | US$15m |
| 15 Apr 2021 | Spire Global US$70m term loan (FP Credit Partners) | Bank facility | US$70m |
| 3 Jun 2020 | OHB €300m syndicated credit facility (2020) | Bank facility | €300m |
| 10 Jun 2021 | Rocket Lab US$100m secured term loan (Hercules Capital) | Bank facility | US$100m |
More from ORBCOMM
| Date | Financing | Type | Amount |
|---|---|---|---|
| 18 Dec 2017 | ORBCOMM US$25m senior secured revolving credit facility | Bank facility | US$25m |
| 31 Mar 2017 | ORBCOMM US$250m 8.0% senior secured notes due 2024 | Bond | US$250m |
M&A and investment involving ORBCOMM
| Date | Deal | Type | Value |
|---|---|---|---|
| 1 Sep 2021 | GI Partners acquisition of ORBCOMM | M&A | US$1.1bn |
Sources
- ORBCOMM Form 8-K: amended and restated credit agreement sec.gov · 2 Dec 2020
About this record
Record ORB-2020-0010, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
