Maxar Technologies talks $1.25 billion four-year notes at 9% area yield; pricing Friday

By Paul A. Harris

Portland, Ore., Nov. 14 – Maxar Technologies Inc. talked its $1.25 billion offering of four-year senior secured notes to price with a yield in the 9% area, according to market sources.

Books close at 1 p.m. ET on Friday.

BofA Securities Inc. is the left bookrunner for the Rule 144A for life offering. RBC Capital Markets LLC, BMO Securities, CIBC World Markets, Wells Fargo Securities LLC, HSBC Securities (USA) Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC, NBFM, MUFG, ING Financial Markets LLC, SMBC Nikko Securities America Inc. and Mizuho Securities USA Inc. are the joint bookrunners.

The notes come with two years of call protection and feature a two-year 40% equity clawback at par plus the coupon and a 101% poison put.

The Westminster, Colo.-based space technology company plans to use the proceeds to pay off its revolving credit facility, as well as its A-1 and A-2 term loans, with any remaining proceeds to be used for working capital, capital expenditures and other general corporate purposes.

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