Spire Global US$120m term loan (Blue Torch)
Refinance the US$70m FP Credit Partners facility; general corporate purposes
Key terms
- Borrower or issuer
- Spire Global
- Date
- 13 Jun 2022
- Type
- Bank facility
- Amount
- US$120m
- Pricing
- SOFR + 8.00% (1.0% floor)
- Maturity
- 2026-06-13
Recorded terms
- Structure
- Four-year term loan under a financing agreement, drawn at closing with US$19.7m in escrow pending revenue tests; warrants issued
- Lenders and arrangers
- Blue Torch Finance, administrative and collateral agent
- Country
- United States
Parties
- Spire Global borrower or issuer
- Private credit: Blue Torch Capital
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 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 |
| 10 Jun 2021 | Rocket Lab US$100m secured term loan (Hercules Capital) | Bank facility | US$100m |
| 20 Sep 2023 | Iridium US$1.5bn term loan B and US$100m revolver (2023 amendment) | Bank facility | US$1.6bn |
More from Spire Global
| Date | Financing | Type | Amount |
|---|---|---|---|
| 15 Apr 2021 | Spire Global US$70m term loan (FP Credit Partners) | Bank facility | US$70m |
| 3 Dec 2020 | EIB €20m venture loan to Spire Global | Government finance | €20m |
M&A and investment involving Spire Global
| Date | Deal | Type | Value |
|---|---|---|---|
| 25 Apr 2025 | Spire Global sale of its maritime business to Kpler | M&A | US$233.5m |
| 30 Nov 2021 | Spire Global acquisition of exactEarth | M&A | Not disclosed |
| 16 Aug 2021 | Spire Global SPAC merger with NavSight | SPAC merger | US$265m |
Sources
- Spire Global Form 8-K: Blue Torch financing agreement sec.gov · 14 Jun 2022
About this record
Record ORB-2022-0006, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
