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Maxar Technologies Inc. MAXR


Primary Symbol: T.MAXR

Maxar Technologies Inc is an integrated space and geospatial intelligence company with a full range of space technology solutions for commercial and government customers including satellites, Earth imagery, geospatial data, and analytics. Its operating segments include Earth Intelligence and Space Infrastructure.


TSX:MAXR - Post by User

Post by retiredcfon Jun 10, 2022 8:43am
123 Views
Post# 34746479

Globe & Mail

Globe & Mail

07:35 AM EDT, 06/10/2022 (MT Newswires) -- Maxar Technologies (MAXR.TO, MAXR) on Friday said it has priced the previously announced offering of its senior secured notes due 2027 with aggregate principal amount of US$500 million at a price equal to 100% of their face value.

The space technology and geospatial intelligence company, which was 3% higher in US pre-market trading, said the notes will have an interest rate of 7.75% a year. The offering is expected to close by June 14, subject to customary conditions, it said.

The company also said it is extending the maturity date of its revolving credit facility to June 2027 and of the term loan obligations to June 2029. It intends to increase the total principal amount of the term loan to US$1.5 billion.

The company estimates the net proceeds from the offering of the notes will be approximately US$493 million.

It will use the net proceeds, together with proceeds from the amended borrowings, to fund the redemption of all of its outstanding 9.750% senior secured notes due 2023 and to pay related transaction premiums, fees and expenses.

The redemption date for the 2023 notes will be on the same date as the closing of the notes offering.

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