Maxar Technologies prices $500M debt offering, to amend and extends its credit facilities

Jun. 10, 2022 6:15 AM ETMaxar Technologies Inc. (MAXR), MAXR:CABy: Niloofer Shaikh, SA News Editor5 Comments
  • Maxar Technologies (NYSE:MAXR) has priced previously announced offering of $500M of 7.75% senior secured notes due 2027 at a price equal to 100% of their face value.
  • The closing of the sale of the notes is expected to occur on or about June 14, 2022.
  • The company also expects to amend and restate that certain credit agreement under its existing syndicated credit facility and term loan obligations.
  • The aggregate principal amount of the term loan obligations are also expected to be increased to $1.5B.
  • Net proceeds from the offering of the notes will be approximately $493M and together with proceeds from borrowings under the amendment and restatement on the closing of the notes offering and cash on hand will be used to fund the redemption of all of its outstanding 9.750% senior secured notes due 2023.
  • The redemption date for the existing 2023 notes will be on the same date as the closing of the notes offering.

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