DigitalGlobe increases term loan pricing 100 bps, adds flexibility

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – DigitalGlobe, Inc. amended the credit agreement governing its term loan and revolving credit facility, raising term loan pricing and adding flexibility for the company to continue its share repurchase program, according to a Monday press release.

The amendment raises the applicable term loan margin by 100 basis points, with a further 50 bps increase if the corporate rating of the company is B1 or lower from Moody’s or B+ or lower from Standard & Poor’s.

Call protection of 1% will be provided for certain repricing transactions for the next 12 months.

The also amendment provides for modifications to the definition of “available amount” to conform the definition to the indenture governing its 5¼% senior notes due 2021.

Also modified is the definition of “ECF percentage” to increase the leverage threshold for which mandatory prepayments from excess cash flow are required.

DigitalGlobe is a Westminster, Colo.-based provider of commercial high-resolution earth imagery products and services.

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