Maxar finalizes $1.5 billion term loan B at SOFR plus 425 bps

By Sara Rosenberg

New York, June 9 – Maxar Technologies Inc. firmed pricing on its $1.5 billion seven-year term loan B at SOFR+CSA plus 425 basis points, the high end of the 400 bps to 425 bps talk, according to a market source.

In addition, the original issue discount on the term loan was revised to 95.5 from 96, the source said.

As before, the term loan has a 0.5% floor, CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, and 101 soft call protection for six months.

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

RBC Capital Markets, BofA Securities Inc., Barclays, BMO Capital Markets, JPMorgan Chase Bank, Capital One, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., Citizens Bank and ING Bank are the leads on the deal.

Commitments continued to be due at noon ET on Thursday, 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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