Spire Global US$70m term loan (FP Credit Partners)
Repay the EIB and Eastward Fund Management loan facilities; working capital
Key terms
- Borrower or issuer
- Spire Global
- Date
- 15 Apr 2021
- Type
- Bank facility
- Amount
- US$70m
- Pricing
- 8.50%
Recorded terms
- Structure
- Term loan under a credit agreement with FP Credit Partners as agent, amended 17 May 2021 and funded in May 2021
- Lenders and arrangers
- FP Credit Partners (Francisco Partners), as agent
- Country
- United States
Parties
- Spire Global borrower or issuer
- Private credit: Francisco Partners (FP Credit Partners)
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|---|---|---|---|
| 10 Jun 2021 | Rocket Lab US$100m secured term loan (Hercules Capital) | Bank facility | US$100m |
| 9 Dec 2020 | ABL Space Systems debt raise of US$20m | Bank facility | US$20m |
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| 24 Nov 2021 | Terran Orbital US$150m senior secured notes (Francisco Partners) | Bank facility | US$150m |
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More from Spire Global
| Date | Financing | Type | Amount |
|---|---|---|---|
| 13 Jun 2022 | Spire Global US$120m term loan (Blue Torch) | Bank facility | US$120m |
| 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$265m |
Sources
- Spire Global Form 10-Q, quarter to 30 September 2021 (FP Term Loan) sec.gov · 10 Nov 2021
About this record
Record ORB-2021-0003, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
