Maxar launches $1.5 billion term loan B at SOFR plus 400-425 bps

By Sara Rosenberg

New York, June 1 – Maxar Technologies Inc. held a lender call at 2 p.m. ET on Wednesday to launch a $1.5 billion seven-year term loan B that is talked at SOFR+CSA plus 400 basis points to 425 bps with a 0.5% floor and an original issue discount of 96, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months, the source said.

The company’s $2 billion of credit facilities (B2/B) also include a $500 million five-year revolver.

RBC Capital Markets is the lead on the deal.

Commitments are due at noon ET on June 9, the source added.

Proceeds will be used with a $500 million senior secured notes offering and cash on hand to refinance an existing term loan B and 9¾% senior secured notes due 2023, and to pay related fees and expenses.

Maxar Technologies is a Westminster, Colo.-based provider of comprehensive space solutions and secure, precise, geospatial intelligence.

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