Maxar Technologies Announces Launch of $1.250 Billion Senior Secured Notes Offering
November 04 2019 - 8:10AM
Business Wire
Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a trusted partner and
innovator in Earth Intelligence and Space Infrastructure, today
announced the commencement of a private offering of $1.250 billion
aggregate principal amount of senior secured notes due 2023. The
notes will be senior, first-priority secured obligations of the
Company initially guaranteed on a senior, first-priority secured
basis by the Company’s subsidiaries that are guarantors under its
existing syndicated credit facility.
Proceeds from the notes are expected to be used to repay all of
the borrowings that were outstanding as of September 30, 2019 under
the Company’s revolving credit facility, and term loans A-1 and
A-2, each under the Company’s existing syndicated credit facility,
and to pay certain fees and expenses related to the offering of the
notes, the use of proceeds therefrom, and an amendment of the
syndicated credit facility. The Company intends to use any
remaining proceeds for working capital needs, capital expenditures
and other general corporate purposes.
The notes and the guarantees have not been and will not be
registered under the U.S. Securities Act of 1933, as amended
(“Securities Act”), or the securities laws of any other
jurisdiction and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements. The notes and the guarantees will be offered in the
United States only to persons reasonably believed to be qualified
institutional buyers in reliance on the exception from registration
set forth in Rule 144A under the Securities Act and outside the
United States to non-U.S. persons pursuant to Regulation S under
the Securities Act.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes, and shall not constitute
an offer, solicitation or sale of any notes in any jurisdiction in
which such offer, solicitation, or sale would be unlawful.
The operations of DigitalGlobe, SSL and Radiant Solutions were
unified under the Maxar brand in February; MDA continues to operate
as an independent business unit within the Maxar organization.
About Maxar
Maxar is a trusted partner and innovator in Earth Intelligence
and Space Infrastructure. We deliver disruptive value to government
and commercial customers to help them monitor, understand and
navigate our changing planet; deliver global broadband
communications; and explore and advance the use of space. Our
unique approach combines decades of deep mission understanding and
a proven commercial and defense foundation to deploy solutions and
deliver insights with unrivaled speed, scale and cost
effectiveness. Maxar’s 5,800 team members in 30 global locations
are inspired to harness the potential of space to help our
customers create a better world. Maxar trades on the New York Stock
Exchange and Toronto Stock Exchange as MAXR. For more information,
visit www.maxar.com.
Forward-Looking Statements
Certain statements and other information included in this
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws. Statements including
words such as "may", "will", "could", "should", "would", "plan",
"potential", "intend", "anticipate", "believe", "estimate" or
"expect" and other words, terms and phrases of similar meaning are
often intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
Forward-looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties, as well as other statements referring to or
including forward-looking information included in this
presentation.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results to differ materially
from the anticipated results or expectations expressed in this
presentation. As a result, although management of the Company
believes that the expectations and assumptions on which such
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct.
The risks that could cause actual results to differ materially from
current expectations include, but are not limited to, the risk
factors and other disclosures about the Company and its business
included in the Company's continuous disclosure materials filed
from time to time with U.S. securities and Canadian regulatory
authorities, which are available online under the Company's EDGAR
profile at www.sec.gov, under the Company's SEDAR profile at
www.sedar.com or on the Company's website at www.maxar.com.
The forward-looking statements contained in this release are
expressly qualified in their entirety by the foregoing cautionary
statements. All such forward-looking statements are based upon data
available as of the date of this presentation or other specified
date and speak only as of such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements in this presentation as a result of new information or
future events, except as may be required under applicable
securities legislation.
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version on businesswire.com: https://www.businesswire.com/news/home/20191104005468/en/
Investor Relations Contact: Jason Gursky Maxar VP
Investor Relations 1-303-684-2207 jason.gursky@maxar.com
Media Contact: Turner Brinton Maxar Media Relations
1-303-684-4545 turner.brinton@maxar.com
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