DigitalGlobe launches $1.28 billion term loan B at Libor plus 300 bps

By Sara Rosenberg

New York, Dec. 6 – DigitalGlobe Inc. launched on Tuesday its $1,275,000,000 seven-year term loan B with price talk of Libor plus 300 basis points with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and a total leverage covenant of 5.5 times with step-downs, the source said.

The company’s $1,475,000,000 credit facility (Ba3/BB+) also includes a $200 million revolver.

Barclays is the lead left bookrunner on the deal.

Commitments are due at noon ET on Dec. 16, the source added.

Proceeds will be used to pay down revolver borrowings, to refinance a term loan B due 2020 and 5¼% notes due 2021 and to pay related fees and expenses.

DigitalGlobe is a Westminster, Colo.-based provider of Earth imaging and geospatial solutions.

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