ORBCOMM US$25m senior secured revolving credit facility
Working capital and general corporate purposes
Key terms
- Borrower or issuer
- ORBCOMM
- Date
- 18 Dec 2017
- Type
- Bank facility
- Amount
- US$25m
- Pricing
- LIBOR + 2.50% (base rate + 1.50%)
- Maturity
- 2022-12-18
Recorded terms
- Structure
- Five-year senior secured revolving credit facility, first priority security over substantially all assets
- 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 |
|---|---|---|---|
| 22 Dec 2016 | DigitalGlobe US$1,475m senior secured credit facilities (2016) | Bank facility | US$1.48bn |
| 19 Dec 2018 | SES €400m multi-tranche Schuldschein loan | Bank facility | €400m |
| 17 Nov 2016 | Telesat US$2.63bn senior secured credit facilities (2016) | Bank facility | US$2.63bn |
| 26 Jun 2019 | SES €1.2bn syndicated revolving credit facility | Bank facility | €1.2bn |
| 4 Nov 2019 | Iridium US$1,450m credit facility | Bank facility | US$1.45bn |
More from ORBCOMM
| Date | Financing | Type | Amount |
|---|---|---|---|
| 2 Dec 2020 | ORBCOMM US$250m credit facilities refinancing the 2024 notes | Bank facility | US$250m |
| 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$1.1bn |
Sources
- ORBCOMM Form 8-K: credit agreement sec.gov · 22 Dec 2017
About this record
Record ORB-2017-0006, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
